"An Alternative Framework for a Textbook Analysis of the Money Multiplier" Free Download

JESSE ZINN, Clayton State University - College of Business

In textbooks on the theory of money it is standard practice to hold both reserves and deposits fixed to study the relationship between the quantity of currency in the economy and the money multiplier. But doing so leads to a result that is contrary to the notion that if the public withdraws from their deposits in order to increase currency holdings then bank lending will decrease, causing a fall in both the money supply and the money multiplier. Specifically, when reserves are greater than deposits and both are fixed the money multiplier has a positive relationship with both currency holdings and the currency-deposit ratio. I show that these results are artifacts of implicitly assuming that the monetary authority behaves so as to keep deposits and reserves constant in response to a change in currency held by the public. Dropping these assumptions and abstracting from any response from the central bank results in an unconditionally non-positive relationship between currency holdings and the money multiplier.

"Finding a Simple Solution to the Problem of Student Evaluations: An Index of Traditional Evaluation Questions" Free Download

DEREK STIMEL, University of California, Davis - Department of Economics
JANINE WILSON, University of California, Davis - Department of Economics

The literature commonly finds that student evaluations of economics instruction do not assess true teaching effectiveness. In fact, many of the techniques that we know develop the best learning outcomes result in lower student evaluations because they require students to work harder. At the same time, we continue to use these student evaluations to rate teaching quality and determine hiring and promotion outcomes. The simple reason that undergraduate education has not turned to better methods is the time and expense needed to track the true success of the achievement of learning outcomes. To test how students can recall and use key concepts months and years after the course is cumbersome and resource intensive. Instead of using the traditional scores from the “How well did the instructor do in this course? question which is either unrelated or gives results contrary to how students retained information, we construct a model of student responses that indicate likeability of the instructor and difficulty of the instruction. We test the predictive power of these indicators using teaching evaluations of intermediate microeconomics instructors over five years alongside data on student grades in future courses that depend on intermediate microeconomics. The ability to use these simple questions to construct a more meaningful evaluation of how well the intermediate microeconomic instructors prepare students to recall and use important concepts in the future improves our ability to evaluate instructor effectiveness.

"Intelligence, Hearts & Minds, and Harmony: Applying the Principles of Special Warfare in the College Classroom" 

THAD JACKSON, Arkansas State University

There is a strong and growing consensus in academia that diversity provides value because it fosters better scholarship and improved student outcomes. The seasoned economics professor has witnessed sweeping and significant changes to almost every aspect of students, the university, and even key mainstream beliefs about economics. Beliefs regarding the best approach to teaching economics have failed to change despite the best efforts of economics education researchers. We offer a unique perspective, shaped by extensive experience in special operations military units (Army Ranger Regiment and Navy SEALs) of the nature of this problem and to a variety issues related to classroom instruction. We review our experience of implementing various changes over the last eight years at four universities and our successes and failures along the way. Sometimes an outsider can bring a different perspective on a problem that insiders, regardless of pedigree and competence within their field, fail to see. We bring to bear the principles of special warfare and the habits of special operations warriors to bear on the various challenges facing the typical economics instructor.

"CONFOTO: Browsing and Annotating Conference Photos on the Semantic Web" Free Download
Journal of Web Semantics First Look

BENJAMIN NOWACK, Appmosphere Web Applications

This paper describes CONFOTO, a browsing and annotation service1 for conference photos which combines current web trends such as data sharing and collaborative tagging with Resource Description Framework (RDF) system advantages like unrestricted aggregation and ontology re-use. Interactive user interface components ease information exploring and editing, W3C-recommended import and export interfaces and formats facilitate data integration and re-purposing.


About this eJournal

This eJournal is devoted to advancing the scholarship of teaching and learning economics encouraging contributors to combine ideas in economics with current ideas about teaching and learning, in a way that is public, open to critique, and in a form on which others can build in a timely manner. Unlike refereed journals, this electronic journal does not subject submissions to review but will include abstracts as works in progress with links to the full-text working papers in the SSRN database. Eligible submissions could provide descriptions of innovative courses, case studies, student activities and other teaching materials and information related to the manner in which economics is taught or its teaching assessed at the post-secondary level. (Note: Suitable material submitted to the Journal of Economic Education can also be submitted to Economics Educator, thus, giving potential JEE authors worldwide visibility for their work during the JEE refereeing and editorial process.)

Editor: William Walstad, University of Nebraska at Lincoln


To submit your research to SSRN, sign in to the SSRN User HeadQuarters, click the My Papers link on left menu and then the Start New Submission button at top of page.

Distribution Services

If your organization is interested in increasing readership for its research by starting a Research Paper Series, or sponsoring a Subject Matter eJournal, please email:

Distributed by

Economics Research Network (ERN), a division of Social Science Electronic Publishing (SSEP) and Social Science Research Network (SSRN)



Harvard Business School, SSRN, National Bureau of Economic Research (NBER), European Corporate Governance Institute (ECGI), Harvard University - Accounting & Control Unit

Please contact us at the above addresses with your comments, questions or suggestions for ERN-Sub.

Advisory Board

Economics Educator: Courses, Cases & Teaching eJournal

Associate Professor of Economics, University of Nebraska at Lincoln - Department of Economics

Associate Professor of Economics, SUNY Oswego - Department of Economics

Dean, Kelce College of Business, Pittsburg State University, Emeritus Professor of Economics, Mississippi State University - College of Business

Professor of Economics, University of Richmond - E. Claiborne Robins School of Business