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When Making Money is More Important Than Saving Lives: Revisiting the Ford Pinto Case

students (n = 192). In an undergraduate microeconomics course, students were presented with financial data from the infamous Ford Pinto case where defective engineering, coupled with unethical management ... paper reports a five-year study of ethical decision making of business students. In an undergraduate microeconomics course, students (n = 192) were presented with financial data from the infamous Ford

Continuous Team Assessment to Improve Student Engagement and Active Learning

enhancement activities” (ACER, 2009, p. 4). Students studying the Bachelor of Business degree program at a multi-campus Australian university undertake an intermediate Microeconomics unit (Managerial Economics ... and Strategy) in their second year of undergraduate study. The learning objectives of this unit include students gaining experience in applying key Microeconomics concepts in the discipline, application

Hospitality Education: Prevalent Perceptions

Management, Hospitality Sales least important courseswere Second Management, Guest Service Semester Modem Language, (Front Office) Management, and Microeconomics, and MacroecoSenior Seminar. nomics. The three ... sational Hospitality Spanish, and International Hospitality Opera- Financial Accounting. The three tions as heing least important. least important courses were Table 3 shows the ranking by Microeconomics

Integrating a Social Justice Perspective in Economics Education: Creating a Distinctly Catholic Education

articulates and studies the implication of only some of these assumptions—see for example, Nicholson’s (1990) Intermediate Microeconomics.2 Other assumptions are left unstated or are presented as obvious truths ... ) Intermediate Microeconomics, the assumptions underlying perfect competition (a homogeneous product, a large number of buyers and sellers, no missing markets, no public goods, no externalities, perfect

Demand Uncertainty Reduces Market Power and Enhances Welfare

Classical welfare economics assumes that the demand function, or consumers’ utility, is known with certainty. Probabilistic microeconomics generalizes it by maximizing expected utility, or by ... theoretically prescribed random structure of demand. Our work proposes what we believe to be a more practical alternative. McCall (1971) provided an early survey of probabilistic microeconomics. He stated: “work

Free Enterprise and the Rule of Law: The Political Economy of Executive Discretion (Efficiency Implications of Regulatory Enforcement Strategies)

& WILLIAM D. NORDHAUS, ECONOMICS 5 (18th ed. 2005) ("Adam Smith is usually considered the founder of the field of microeconomics, the branch of economics which today is concerned with the behavior of ... actions of individuals. These remain important issues today, and while the study of microeconomics has surely advanced greatly since Smith's day, he is still cited by politicians and economists alike

A Hierarchy of Markets: How Basic Needs Induce a Market Failure

quantities purchased at different prices. 120 Demand curves are frequently used in microeconomics analysis, usually under Alfred Marshall's convention, indicating for a product or a group of products the ... A. SCHUMPETER, HISTORY OF ECONOMIC ANALYsis 307, 992 (1954)). 124. PAUL A. SAMUELSON & WILLIAM D. NORDHAUS, MICROECONOMICs 58 (15th ed. 1989). 125. Recall Adam Smith's invisible hand: each consumer

Collective bargaining systems and macroeconomic and microeconomic flexibility: the quest for appropriate institutional forms in advanced economies

that the polder or Dutch model might also be expected to populate the firmament of fit-for-purpose collective bargaining arrangements. JEL Classification: Microeconomics/Institutions (D02), Institutions

Developing an Interdisciplinary Area of Economics and Human-Computer Interaction

of microeconomics: neoclassical economics, behavioral economics, and information economics. The development of behavioral economics and information economics can be viewed as stemming from challenging ... CONCEPTUAL FOUNDATIONS: THREE REFERENCE AREAS OF ECONOMICS 2 As mentioned earlier, this research refers to three main streams of microeconomics: neoclassical economics, behavioral economics, and information

The Stumbling Block: Freedom, Rationality, and Legal Scholarship

form of reasoning."i Indeed, he thinks it is impossible in the real world. He 9. See generally HERBERT A- SIMON, AN EMPIRICALLY BASED MICROECONOMICS (1997) [hereinafter SIMON, MICROECONOMICS]; HERBERT A ... knowledge that are attainable and the kinds of computations that can actually be carried out. SIMON, MICROECONOMICS, supra note 9, at 63. 18. Id. at 62 (arguing that "we want economic theories ... to help

The New Employment Contract?

. 1991. “Wage Dispersion between and within U.S. Manufacturing Plants: 1963–86.” Brookings Papers on Economic Activity, Microeconomics 115–200. Doeringer, Peter B., and Michael Piore. 1971. Internal Labor

Important aspects of teaching: some personal observations and practical considerations

entitled "Applied Microeconomics". The subject was specifically designed to complement my research interests and each year we explore 4-5 topics such as the economics of education, the economics of health

Neoclassical Economics and the Erosion of Middle-Class Values: An Explanation for Economic Collapse

, Mar. 13, 2009, at Al. See also DOMINICK SALVATORE, MICROECONOMICS: THEORY AND APPLICATIONS 164 (5th ed. 2009) ("Risk analysis can be used to analyze crime deterrence. A 1973 study found that criminals ... not everybody sleeps. The best and brightest listen, and learn. What do the best and brightest students learn from a traditional university course in microeconomics? NEOCLASSICAL COURSES TREAT

Opening Up Opportunities for Engagement in Intermediate Microeconomics

Engagement in Intermediate Microeconomics David R. Ross 0 0 Bryn Mawr College Follow this and additional works at: - OPENING UP OPPORTUNITIES FOR ENGAGEMENT IN ... INTERMEDIATE MICROECONOMICS My intermediate microeconomics class, at 30-40 students, is smaller than the sage-on-the-stage extravaganzas one would encounter at most universities, but too large easily to foster

Democracy, Sovereignty, and Intervention

MICROECONOMICS 176 (1978) (defining transaction costs, including the costs of amassing information as the results of buyers and sellers interacting in a market and exchanging imperfect information, which results

Promoting Economic Literacy in Massachusetts and Beyond

ready for the competition tests in microeconomics, macroeconomics, and international/current events. Interest has been steadily growing, and the most recent competition, held in March 2007, attracted

Stand Your Ground in Florida: The Effect of Race, Location and Weapons on Convictions

finance and accounting techniques, and microeconomics. Benton , Edwin J, ed. 2008 . Government and politics in Florida . Gainesville, FL: University of Florida Press. Boots , Denise P. , Bihari , Jay Shree

The Committee on the Constitutional System Proposals: Coherence and Dominance

microeconomics or for all I know biology, or physical chemistry, is to escape the impress of the usual and ordinary ways of looking at things. Because this enterprise requires intellectual courage and a certain

Law and Economics: Intellectual Arbitrage

the very tests he had taken. The professor's response: "Oh, the questions are the same, it's the answers we've changed." Even in a field as well-considered as classical microeconomics, new ideas emerge ... turn, may allow us to improve our understanding of law. I. GAME THEORY AND STRATEGIC BEHAVIOR As a discipline, law and economics advanced on the strong back of classical microeconomics. Individual

Suboptimization by Rationing

society. See E. MANSFIELD, MICROECONOMIcs THEORY AND APPLICATIONS 427-29 (1970) [hereinafter cited as MANSFIELD]. 30. The equation of the line is: Total U.S. Expenditure at World Prices = P0i Qoil ... + PmiscQmisc or rearranging, Total PoiI IPmise Prais See, e.g., S. KAISH, MICROECONOMICS 98, 99 (1976) [hereinafter cited as KAISH]. then some point such as point A along the production possibility frontier