Here.

This works as a semester long simulation.

ECON 2040 Experimental Macroeconomics 
Print CourseECON 2040 Experimental Macroeconomics
This course offers an alternative pedagogical approach to macroeconomics education involving an auction and exchange mechanism. Students purchase auction chips at the beginning of the semester, which is collected as tax revenue dollars for the class government overseen by a bank. These chips are utilized in making decisions that help students to examine the basic economic principles relevant to the resource utilization problems of the economy as a whole, including inflation, unemployment, output and economic growth. To address fiscal and monetary policy issues, the class votes on how our classes government should spend our community’s tax dollars, balances a simulated version of the national budget, and has the opportunity to visit and write upon the the New York Federal Reserve Bank. 
Credits: 3.0

​William Patterson University

Here.

Establishing the external validity of experimental inflation forecasts is essential if laboratory experiments are to be used as decision-making tools for monetary policy. Our contribution is to document whether different measures of inflation expectations, based on various categories of agents (participants in experiments, households, industry forecasters, professional forecasters, financial market participants and central bankers), share common patterns. We do so by analysing the forecasting performance of these different categories of data, their deviations from full information rational expectations, and the variables that enter the determination of these expectations. Overall, the different categories of forecasts exhibit common features: forecast errors are comparably large and autocorrelated, and forecast errors and forecast revisions are predictable from past information, suggesting the presence of some form of bounded rationality or information imperfections. Finally, lagged inflation positively affects the determination of inflation expectations. While experimental forecasts are relatively comparable to survey and financial market data, more heterogeneity is observed compared to central bank forecasts..

Camille Cornand
Paul Hubert

Here.

Economic experiments can help inform the design and implementation of government policies, especially newly conceived or novel policies. This report reviews experimental methods, with a focus on when and how they can be effectively used to inform agricultural program decisions. To illustrate the capabilities of experimental methods, five case studies are presented. First, a laboratory study examines whether it is possible to improve the cost-effectiveness of auctions similar to those used in voluntary land retirement programs. A second laboratory study, with both students and farmers, illustrates how a combination of targeting and bonuses may be able to improve environmental outcomes by encouraging coordination among conservation program enrollees. The third study, conducted in the field to more closely mimic real-world conditions, measures how farmers trade off current income against future income and finds farmers will accept less money if paid today rather than in the future. The fourth and fifth studies are randomized controlled trials testing the marketing of USDA programs; these show how outreach letters can increase participation in the Conservation Reserve Program and in county committee elections.

From:

Nathaniel Higgins, Daniel Hellerstein, Steven Wallander, and Lori Lynch
United States Department of Agriculture

Here.

In particular, the one on uncertainty:

Session 8: The Macroeconomics of Uncertainty and Volatility
SITE Summer Workshops 2019
August 21-23, 2019 | Landau Economics Bldg, 579 Serra Mall, Rm 134, StanfordThe session will cover recent work on the causes and effects of changes in volatility and uncertainty in the aggregate economy, which is incredibly topical given the ongoing Brexit turmoil and US election outcomes. Many observers, including policymakers such as Bernanke, Summers and Romer, have highlighted that these have been major driving factors in the recent credit-crunch recession and advanced heuristic arguments of why this might have been the case. Unfortunately, our theoretical and empirical understanding of these topics is limited since only recently have macroeconomists started working on these issues from a more systematic basis. Nevertheless, the preliminary results in the literature, to which all four of us have contributed, are rather encouraging. Changes in volatility and uncertainty similar to the ones observed for the U.S. economy can be shown to be quantitatively significant factors in business cycle fluctuations and a key element in a successful explanation of aggregate fluctuations. Moreover, the presence of changes in volatility and uncertainty has important implications for the design of optimal policies and for our assessment of the responses of central banks and fiscal authorities to recent developments in the world economy. Therefore, the session will aim to include about 20 recent papers on these topics. Our goal is to have a balanced mix of theoretical and empirical papers and a strong interest in applications to policy.
Organizers: Nick Bloom (Stanford), Steve Davis (University of Chicago), Jesus Fernandez-Villaverde (University of Pennsylvania) and John Rogers (Federal Reserve Board)

Here.

Greg Mankiw posted a link to his forthcoming article (non-gated for some reason) on teaching intermediate macroeconomics.

June 24-28, 2019 Every summer, high school students from across Southern California and beyond meet at Chapman University for a week long workshop on experimental economics.
Hosted by the Economic Science Institute at Chapman University and generously funded by the International Foundation for Research in Experimental Economics (IFREE)and Thomas W. Smith Foundation, the workshop aims to expose high school students to economics and the experimental approach to economics. No prior experience in economics is necessary as many participants have little to no exposure beforehand. However, many leave with a new interest in economics.
One student described the 2019 workshop as “…an experience that I’ll remember for a lifetime! I’ve learned so much this week about things I never knew before.”

This summer's Chapman high school experimental workshop.

Here.

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