Teaching the economic way of thinking : a new approach to teaching introductory economics in a business degree

In teaching introductory economics there has been a tendency to put a lot of emphasis on imparting abstract models and technical skills to students (Stilwell, 2005; Voss, Blais, Greens, & Ahwesh, 1986). This model building approach has the merit of preparing the grounding for students 10 pursue further studies in economics. However, in a business degree with only a small proportion of students majoring in economics, such an approach tend to alienate the majority of students transiting from high school in to university. Surveys in Europe and Australia found that students complained about the lack of relevance of economics courses to the real world and the over-reliance of abstract mathematical modelling (Kirman, 2001; Lewis and Norris, 1997; Siegfried & Round, 2000). BSB112 Economics 1 is one of the eight faculty core units in the Faculty of Business at QUT, with over 1000 students in each semester. In semester I 2008, a new approach to teaching this unit was designed aiming to achieve three inter-related objectives: (1) to provide business students with a first insight into economic thinking and language, (2) to integrate economic analysis with current Australian social, environmental and political issues, and (3) to cater for students with a wide range of academic needs. Strategies used to achieve these objectives included writing up a new text which departs from traditional economics textbooks in important ways, integrating students' cultures in teaching and learning activities, and devising a new assessment format to encourage development of research skills and applications rather than reproduction of factual knowledge. This paper will document the strategies used in this teaching innovation, present quantitative and qualitative evidence to evaluate this new approach and suggest ways of further improvement.

Economics of maritime disasters : essays on the Titanic and Lusitania

This work seeks to fill some of the gap existing in the economics and behavioural economics literature pertaining to the decision making process of individuals under extreme environmental situations (life and death events). These essays specifically examine the sinking’s of the R.M.S. Titanic, on 14th April of 1912, and the R.M.S. Lusitania, on 7th May 1915, using econometric (multivariate) analysis techniques. The results show that even under extreme life and death conditions, social norms matter and are reflected in the survival probabilities of individuals onboard the Titanic. However, results from the comparative analysis of the Titanic and Lusitania show that social norms take time to organise and be effective. In the presence of such time constraints, the traditional “homo economicus” model of individual behaviour becomes evident as a survival of the fittest competition.

Students' perceptions of teacher biases : experimental economics in schools

We put forward a new experimental economics design with monetary incentives to estimate students’ perceptions of grading discrimination. We use this design in a large field experiment which involved 1,200 British students in grade 8 classrooms across 29 schools. In this design, students are given an endowment they can invest on a task where payoff depends on performance. The task is a written verbal test which is graded non anonymously by their teacher, in a random half of the classrooms, and graded anonymously by an external examiner in the other random half of the classrooms. We find significant evidence that students’ choices reflect perceptions of biases in teachers’ grading practices. Our results show systematic gender interaction effects: male students invest less with female teachers than with male teachers while female students invest more with male teachers than with female teachers. Interestingly, female students’ perceptions are not in line with actual discrimination: Teachers tend to give better grades to students of their own gender. Results do not suggest that ethnicity and socioeconomic status play a role. .

Stepping out into the real world of education : an introduction

‘Stepping out into the real world of Education’ has been written to complement ‘Transitioning to the real world of Education’ (Millwater & Beutel, 2008). Both books are aimed at strategising the transition you are experiencing, from preservice teacher to professional educator, through issues that you will face as early career teachers from any specialist teaching strand - early childhood, primary, middle or secondary. ‘Transitioning to the real world of Education’ (Millwater & Beutel, 2008) addressed the particularities and practicalities of professional standards, life-long learning, teaching for diversity, values-education, teacher/student relationships, teaching in a digital age and teacher burnout. This text aligns with these and explores other areas, in recognition that your early career phase is the pivotal point of how much you commit to being a teacher in the long term.

Engaging with the promises of education : African refugee students in Australian secondary schools

The research reported in this paper investigated the engagement of students who arrived in Australian secondary schools as refugees from Africa. Enrolment of large cohorts of refugees from Africa is a relatively new phenomenon in the English-speaking West. The literature provides evidence that emotional engagement with the promises of schooling is strong for many of the young African refugees. Students envision successful professional careers as doctors, engineers, lawyers, and IT experts; they envision returning to their country as professionals able to help the people. The question investigated in this paper is: How does schooling in Australia impact on young African refugees’ education and career aspirations? Engagement is understood in Bourdieuian terms as dispositions to be and to become an educated person. This is a disposition which entails fundamental belief in the value of the stakes of schooling. The data analysed in the paper were produced in a study undertaken in the state of Queensland where 5000 of the 39 000 African refugees who have arrived in Australia since 2000 have settled. Semi-structured interviews were conducted with students and their parents and teachers after arrival in an intensive language school, and then after transition to a regular secondary school. The findings show both the durability and malleability of educational dispositions in conditions of dramatic social change occasioned by refugee experience. Engagement in the stakes of schooling is both built and eroded as students flee their homelands for countries of refuge. Previously unimaginable educational dreams are possible for some; but for others, long-held dreams become unattainable. The paper concludes with recommendations for better supporting young people through this re-shaping of self.

High quality/high equity systems of education: Curriculum, teachers and reform in the search for equitable outcomes for all students

The issue of what an effective high quality / high equity education system might look like remains contested. Indeed there is more educational commentary on those systems that do not achieve this goal (see for example Luke & Woods, 2009 for a detailed review of the No Child Left Behind policy initiatives put forward in the United States under the Bush Administration) than there is detailed consideration of what such a system might enact and represent. A long held critique of socio cultural and critical perspectives in education has been their focus on deconstruction to the supposed detriment of reconstructive work. This critique is less warranted in recent times based on work in the field, especially the plethora of qualitative research focusing on case studies of ‘best practice’. However it certainly remains the case that there is more work to be done in investigating the characteristics of a socially just system. This issue of Point and Counterpoint aims to progress such a discussion. Several of the authors call for a reconfiguration of the use of large scale comparative assessment measures and all suggest new ways of thinking about quality and equity for school systems. Each of the papers tackles different aspects of the problematic of how to achieve high equity without compromising quality within a large education system. They each take a reconstructive focus, highlighting ways forward for education systems in Australia and beyond. While each paper investigates different aspects of the issue, the clearly stated objective of seeking to delineate and articulate characteristics of socially just education is consistent throughout the issue.

The economics of the FIFA Football World Cup

The expansion of economics to ‘non-market topics’ has received increased attention in recent years. The economics of sports (football) is such a sub-field. This paper reports empirical evidence of team and referee performances in the FIFA World Cup 2002. The results reveal that being a hosting nation has a significant impact on the probability of winning a game. Furthermore, the strength of a team measured with the FIFA World Ranking does not play the important role presumed, which indicates that the element of uncertainty is working. The findings also indicate that the influence of a referee on the game result should not be neglected. Finally, the previous World Cup experiences seem to have the strongest impact on referees' performances during the game.

Economics of non-market innovation and digital literacy

This article is an abbreviated version of a debate between two economists holding somewhat different perspectives on the nature of non-market production in the space of new digital media. While the ostensible focus here is on the role of markets in the innovation of new technologies to create new economic value, this context also serves to highlight the private and public value of digital literacy.

The economics of credence goods: An experimental investigation of the role of verifiability, liability, competition and reputation in credence goods markets

Credence goods markets are characterized by asymmetric information between sellers and consumers that may give rise to inefficiencies, such as under- and overtreatment or market break-down. We study in a large experiment with 936 participants the determinants for efficiency in credence goods markets. While theory predicts that either liability or verifiability yields efficiency, we find that liability has a crucial, but verifiability only a minor effect. Allowing sellers to build up reputation has little influence, as predicted. Seller competition drives down prices and yields maximal trade, but does not lead to higher efficiency as long as liability is violated.

An exploratory study of online social networking within a Doctorate of Education program

The professional doctorate is a degree that is specifically designed for professionals investigating real-world problems and relevant issues for a profession, industry and/or the community. The exploratory study on which this paper is based sought to track the scholarly skill development of a cohort of professional doctoral students who commenced their course in January 2008 at an Australian university. Via an initial survey and two focus groups held six months apart, the study aimed to determine if there had been any qualitative shifts in students’ understandings, expectations and perceptions regarding their developing knowledge and skills. Three key findings that emerged from this study were: (i) the appropriateness of using a blended learning approach in this professional doctoral program; (ii) the challenges of using wikis as an online technology for creating communities of practice; and (iii) the transition from professional to scholar is a process that requires the guided support inherent in the design of this particular doctorate of education program.