Equity Markets, the Money Market, and Long-Run Monetary Neutrality

This paper outlines a process for teaching long-run neutrality of money, drawing an analogy between equity markets and the money market. The key points in the discussion include the following: (1) What is the price of money? (2) Why does the long-run demand for money trace out a rectangular hyperbola? (3) Why does the slow adjustment of goods and service prices to changes in the stock of money lead to a different short-run demand for money? and (4) Why does a successful currency reform generate similar short-run movements in the price of money as movements in equity share prices after a change in the supply of shares? I have used this approach successfully for over 30 years at all levels, wherever I need to discuss the money market in a macroeconomic model.

A case study of teachers' mathematics content knowledge and attitudes toward mathematics and teaching

This study intended to measure teacher mathematical content knowledge both before and after the first year of teaching and taking graduate teacher education courses in the Teach for America (TFA) program, as well as measure attitudes toward mathematics and teaching both before and after TFA teachers’ first year. There was a significant increase in both mathematical content knowledge and attitudes toward mathematics over the TFA teachers’ first year teaching. Additionally, several significant correlations were found between attitudes toward mathematics and content knowledge. Finally, after a year of teaching, TFA teachers had significantly better attitudes toward mathematics and teaching than neutral.