Here:

​www.aier.org/article/defense-teaching-mission

To me the attacks on Econ 101 have been massively misplaced, and I am concerned for my discipline that the voices that defended the core tenets of economic reasoning as developed from Adam Smith to Vernon Smith are not more ferociously defended by practitioners in the classroom and in the public space.

From:

Peter Boettke
George Mason University

​AGENDA
 
The Tenth International Workshop on Theoretical and Experimental Macroeconomics
June 25-26, 2019
Bank of Canada, Ottawa, Canada
 

Tuesday, June 25, 2019


08:20–08:50
Registration and Continental Breakfast
 
Note that all sessions will take place at the Bank of Canada, in the Conference Centre. To enter the Bank, please use the entrance to the Bank of Canada Museum, located at 30 Bank Street (corner of Bank and Wellington Streets) and bring a piece of government-approved photo identification.    


08:50–09:00
Opening Remarks
Governor Stephen S. Poloz (Bank of Canada)


09:00–10:30
Session I: Monetary Policy
Chair: Gabriele Camera (Chapman University and University of Bologna )
 

Inflation and Welfare in the Laboratory
Janet Hua Jiang (Bank of Canada), Daniela Puzzello (Indiana University) and Cathy Zhang (Purdue University)
 
Price Level versus Inflation Targeting under Heterogeneous Expectations: a Laboratory Experiment
Cars Hommes (University of Amsterdam and Tinbergen Institute) and Tomasz Makarewicz (Otto-Friedrich-Universitat Bamberg)

 
 

10:30–11:00
Refreshment Break

 
 

11:00–12:30
Session II: Banking
Chair: Jonathan Chiu (Bank of Canada)
 

 
Are Sunspots Effective in a Large Crowd? Evidence from a Large-scale Bank Run Experiment
Jasmina Arifovic (Simon Fraser University), Cars Hommes (University of Amsterdam and Tinbergen Institute), Anita Kopányi-Peuker (University of Amsterdam and Tinbergen Institute), and Isabelle Salle (Bank of Canada)
 
Liquidity Requirements and the Interbank Loan Market: An Experimental Investigation
Douglas Davis (Virginia Commonwealth University), Oleg Korenok (Virginia Commonwealth University), John Lightle (Virginia Commonwealth University), and Edward S. Prescott (Federal Reserve Bank of Cleveland)
 
12:30–13:30
Lunch
 
13:30–14:30
Keynote Presentation
Chair: John Duffy (University of California, Irvine)
 
Leverage, Asset Prices, and Default in the Laboratory
Marco Cipriani (Federal Reserve Bank of New York), Ana Fostel (University of Virginia), and Daniel Houser (George Mason University)
 
14:30–15:00
Refreshment Break

 
15:00–16:30
Session III: Central Bank Communication
Chair: Robert Amano (Bank of Canada)
 
 
Vague Talk in ECB Press Conference: News or Noise?
Nan Hu (Goethe University Frankfurt) and Zexi Sun (Goethe University Frankfurt)
 
Enhancing Central Bank Communications Using Simple and Relatable Information
David Bholat (Bank of England), Nida Broughton (The Behavioral Insights Team)), Alice Parker (Bank of England), Janna Ter Meer (The Behavioral Insights Team) and Eryk Walczak (Bank of England)    


16:30–17:00
Refreshment Break

17:00–18:00
Panel Discussion: The Future of Experimental Macroeconomics
Moderator: Luba Petersen (Simon Fraser University)
 
Panelists: Jasmina Arifovic (Simon Fraser University), John Duffy (University of California, Irvine), Cars Hommes (University of Amsterdam and Tinbergen Institute), Damjan Pfajfar (Board of Governors of the Federal Reserve System)

18:00
Reception and Dinner (by invitation only)
Host: Paul Beaudry (Deputy Governor, Bank of Canada)
 
Bank of Canada, Noël Terrace, entrance via the East Tower Lobby (corner of Sparks and Bank Streets).

Wednesday, June 26, 2019

08:30–09:00
Continental Breakfast
Note that all sessions will take place at the Bank of Canada, in the Conference Centre. To enter the Bank, please use the entrance to the Bank of Canada Museum, located at 30 Bank Street (corner of Bank and Wellington Streets) and bring a piece of government-approved photo identification.    
 
09:00–10:30
Session IV: Saving and Labor Decisions
Chair: Olena Kostyshyna (Bank of Canada)

 
Perceived Wealth and Borrowing Attitudes: the Leverage Bias Hypothesis
Tiziana Assenza (Toulouse School of Economics and Complexity Lab in Economics, Universita Cattolica del Sacro Cuore), Alberto Cardaci (Complexity Lab in Economics, Universita Cattolica del Sacro Cuore), and Domenico Delli Gatti (Complexity Lab in Economics, Universita Cattolica del Sacro Cuore and CESifo Group Munich)
 
Wealth Effects and Labor Supply: An Experimental Study
Deniz  Nebioglu (MEF University, Bilgi Economics Lab of Istanbul) and Ayça Ebru Giritligil (Istanbul Bilgi University, Bilgi Economics Lab of Istanbul)

10:30–11:00
Refreshment Break

11:00–12:30
Session V: Behavioral Theory and Evidence
Chair: Rosemarie Nagel (ICREA, Universitat Pompeu Fabra, and Barcelona GSE)
 

Economic Agents as Imperfect Problem Solvers
Cosmin Ilut (Duke University and NBER) and Rosen Valchev (Boston College)
           
Do You Know That I Know That You Know…? Higher Order Beliefs in Survey Data
Olivier Coibion (University of Texas Austin and NBER), Yuriy Gorodnichenko (University of California Berkeley and NBER), Saten Kumar (Auckland University
of Technology), and Jane Ryngaert (Wake Forest University)

12:30–13:30
Lunch

13:30–14:30
Keynote Presentation
Chair: Oleksiy Kryvtsov (Bank of Canada)
 
Optimal Taxation in a Global Economy
Varadarajan Chari (University of Minnesota and Federal Reserve Bank of Minneapolis), Juan Pablo Nicolini (Federal Reserve Bank of Minneapolis and Universidad Di Tella) and Pedro Teles (Banco de Portugal, Catolica Lisbon SBE, and CEPR)

14:30–15:00
Refreshment Break

15:00–16:30
Session VI: Expectations in Asset Markets
Chair: Lerby Ergun (Bank of Canada)
 
Long-Horizon Expectations: a Lab Experiment
George Evans (University of Oregon and University of St Andrews), Cars Hommes ((University of Amsterdam and Tinbergen Institute), Bruce McGough (University of Oregon), and Isabelle Salle (Bank of Canada)
 
Expectations and Stock Market Participation: Theory and Evidence
Michael Shin (University of California, Irvine)

16:30–17:00
Refreshment Break

17:00–17:45
Session VII: Price Dynamics
Chair: Olga Rud (RMIT University)
 
Market concentration and the dynamics of prices and mark-ups
Curtis Kephart (New York University, Abu Dhabi) and David Munro (Middlebury College)


17:45–17:55
Closing Remarks
Lawrence Schembri (Deputy Governor, Bank of Canada)
 
Organizers:
Robert Amano (Bank of Canada)
Gabriele Camera (Chapman University and University of Bologna)
John Duffy (University of California at Irvine)
Janet Jiang (Bank of Canada)
Rosemarie Nagel (ICREA, Universitat Pompeu Fabra, and Barcelona GSE)
Luba Petersen (Simon Fraser University)
Shyam Sunder (Yale University)

Here.

The American Economist (AEX) has a long history of publishing scholarship in economic education. In fact, a recent study by Lo, Wong, Mixon, and Asarta found AEX to rank third in terms of economic education articles published in all economics journals indexed in the Social Sciences Citations Index. According to Asarta, Jennings, and Grimes, AEX’s contributions to the field can be cataloged into four major categories: program design, instructional and assessment methodology, instructional materials, and student outcomes. To continue with AEX’s history of encouraging, promoting, and disseminating economic education scholarship, this article catalogs the opportunities that now exist for publishing such work in journals focused on economic education–specific work. In addition, the article assesses the relative impact of the work presented in those journals since 1995, a key year in the field, with the ultimate goal of serving as a valuable resource for scholars interested in publishing in the dynamic field of economic education.
​
From:

Carlos J. Asarta
University of Delaware

Frank G. Mixon, Jr.
Columbus State University

Here.

Web-based experiments that cut across the lab vs. field distinction are increasingly popular with economists. However, non-standardized software features and services hinder comparability and replication. This study reviews a wide selection of experimental economics software packages and evaluates them against criteria based on the logistics and operational requirements of economic experiments. We find that oTree and SoPHIE rank highest across criteria, but Veconlab and classEx might be suitable for those with a dominant need for a large library of ready-made experiments. We find a portability gap: no presently available software allows portability of experiments across platforms because of technical complexity and the challenging coordination needs of experimental economists. As a result, experiments may be replicated only on the same platform or with the same software, but general replicability is slow and costly. This constrains the development of experimental economics as a replicable science.


From:

Shu Wing Chan 
Steven Schilizzia
Md Sayed Iftekhar
Raymond Da Silva Rosa

University of Western Australia

Here.

With 2019 marking the fiftieth year of publication of the Journal of Economic Education (JEE), it seems fitting to examine the evolution of economic instruction as portrayed in the Journal. Born of the American Economic Association (AEA), and first edited by members of the AEA’s Committee on Economic Education (Saunders 2012Saunders, P. 2012. A history of economic education. In International handbook on teaching and learning economics, ed. G. M. Hoyt and K.McGoldrick, 3–31. Cheltenham, UK and Northhampton, MA: Edward Elgar. [Google Scholar]), it is not surprising that the Journal’s focus as chronicler, proponent, and outlet for economic education activity reflects the educational component of the American Economic Association’s mission. The creation of the Journal signaled a self-awareness in the discipline that we needed to be more deliberate in thinking about how we teach economics and, as a discipline, take responsibility for the teaching enterprise at all levels in the United States. Furthermore, it has “serve[d] as a journal of ‘natural history’ of the teaching of economics” and a resource designed to document successful “techniques and patterns” so that future generations do not face the pitfalls that “human knowledge [as] a very perishable commodity” generates (Boulding 1969Boulding, K. E. 1969. Economic education: The stepchild too is father of man. Journal of Economic Education 1 (1): 7–11. doi: 10.1080/00220485.1969.10845291.[Taylor & Francis Online], [Web of Science ®], , [Google Scholar], 9, 10).
We provide an overview of the evolution of economic pedagogy over the past five decades as conveyed by the JEE. 



From:

Gail M. Hoyt
University of Kentucky

KimMarie McGoldrick
University of Richmond

Here.

Although seminal literature indicates that “chalk and talk” is still the predominant lecture method (Watts and Becker, 2008; Watts and Schaur, 2011; Ongeri, 2017), research more specific to millennials (Carrasco-Gallego, 2017; Leinberger, 2015; Litzenberg, 2010; Morreale and Staley, 2016) indicates multiple challenges for economics instructors who are teaching millennials; it suggests instructors need to adapt their teaching methods. They especially point out that millennials have a different skillset than previous student cohorts. Recently, multiple new teaching methods have been proposed in the economics literature. This paper reviews and discusses the most effective teaching methods specifically targeting millennials. New teaching methods clearly focus on the inclusion of popular culture and media, which are already a salient part of the day-to-day life of students. Improving students’ engagement appears to be a paramount objective in the recent literature. Examples of methods reviewed in this papers are flipped classroom, student-crafted economics experiments, and the use of social media as a medium of instruction.

From:

Julien Picault
University of British Columbia

Here.

This article discusses how to use FREDcast, an interactive economic forecastinggame from the Federal Reserve Bank of St. Louis, to teach macroeconomics. It provides instructions on how to set the game up and organize related teaching materials such as graphs and data points through a FRED (Federal Reserve Economic Data) Dashboard. It also puts forward a series of classroom discussion questions and suggested assignments. We argue that this pedagogical strategy provides an engaging context for the discussion of core topics in macroeconomics while contributing to the development of data-related expected student proficiencies.

From:

​DiegoMendez-Carbajo
Illinois Wesleyan University, United States

​

Here.

We review the literature on agent-based labor market models by tracing its roots to the microsimulation literature, and surveying a selection of contributions made since the work by Bergmann (1974) and Eliasson (1976). Agent-based models have been applied to explain stylized facts of labor markets as well as for labor market policy evaluations. They also constitute a major part in agent-based macroeconomic models. Besides reviewing the various results achieved, we discuss modeling choices with respect to agents’ behavior and the structure of interaction. Our overall assessment is that agent-based labor market models have given us valuable insights into the functioning of labor markets and the consequences of labor market policies, and that they will increasingly become an essential tool of analysis, in particular when the construction of large macro-models is involved.


From:

Michael Neugart
Technical University of Darmstadt

Matteo Richiardi
University of Torino

Here.

In this paper, we develop a network perspective on the welfare gains from trade in today’s internationally fragmented supply chains. Towards this end, we study a Ricardian trade model featuring trade in final and intermediate products, and introduce a novel comparative statics approach to decompose the total welfare effects of an arbitrary trade cost shock into several meaningful, easily quantifiable, components. This approach uncovers a unique feature of supply chain trade: the gains from trade are not so much determined by a country's own access to the technologies and markets of its direct trading partners, but rather by its supply chain exposure to countries further up- and downstream in the global supply chain. We develop a set of simple statistics to measure each country’s supply chain exposure, show how it predicts the gains from trade, and identify each country's key trade intermediaries, i.e., other nations that primarily leverage its supply chain exposure.


Maarten Bosker
Bastian Westbrock 

​Erasmus University Rotterdam

Here.

The paper addresses the issue of “fake news” through a well-known and widely studied experiment that illustrates possible uses of economics and game theory for understanding the phenomenon. Public news is viewed as an aggregation of decentralized pieces of valuable information about complex events. Success of news systems rests on accumulated investment in trust in news sources. By contrast, fake news involves cases in which news source reliability is not known. The experiment demonstrates how fake news can destroy both the investment in trust and also the benefits that successful news systems provide.


From:

Butkovich, Lazarina
Butkovich, Nina
Plott, Charles R.
Seo, Han

​California Institute of Technology

Here.

Although seminal literature indicates that “chalk and talk” is still the predominant lecture method (Watts and Becker, 2008; Watts and Schaur, 2011; Ongeri, 2017), research more specific to millennials (Carrasco-Gallego, 2017; Leinberger, 2015; Litzenberg, 2010; Morreale and Staley, 2016) indicates multiple challenges for economics instructors who are teaching millennials; it suggests instructors need to adapt their teaching methods. They especially point out that millennials have a different skillset than previous student cohorts. Recently, multiple new teaching methods have been proposed in the economics literature. This paper reviews and discusses the most effective teaching methods specifically targeting millennials. New teaching methods clearly focus on the inclusion of popular culture and media, which are already a salient part of the day-to-day life of students. Improving students’ engagement appears to be a paramount objective in the recent literature. Examples of methods reviewed in this papers are flipped classroom, student-crafted economics experiments, and the use of social media as a medium of instruction.

From:

Julien Picault
University of British Columbia