Forthcoming and Online First Articles

International Journal of Pluralism and Economics Education

International Journal of Pluralism and Economics Education (IJPEE)

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International Journal of Pluralism and Economics Education (4 papers in press)

Regular Issues

  • Learning by comparison: the benefits and challenges of applying pluralism to a lesson series in the IB Diploma Programme Economics course   Order a copy of this article
    by Pim de Ridder 
    Abstract: The aggregate demand-aggregate supply model lends itself well to the incorporation of pluralistic elements such as alternative economic theories, an interdisciplinary approach, and using real-world examples of marginalised communities. These elements were incorporated into a 14-hour-long lesson series that adhered to the secondary-school International Baccalaureate standard economics syllabus. It was taught at the International School of Riga in Latvia. The participating students were thus required to use higher order thinking skills. The benefits and challenges of this lesson series were evaluated by an expert group, a student self-evaluation, and a summative test solely on the content of the standard syllabus. The inclusion of pluralism was well-received by both students and experts. The results, however, imply that stronger students benefited from its inclusion while weaker students become confused and performed worse.
    Keywords: pluralism; economics education; International Baccalaureate; AS-AD model.
    DOI: 10.1504/IJPEE.2023.10055711
  • Backhouse and Medema on the definition of economics: some critical observations   Order a copy of this article
    by Khandakar Q. Elahi 
    Abstract: This paper critically reviews Professors Backhouse and Medema's article - 'On the definition of economics' - published in the Journal of Economic Perspective (2009), which offers a state-of-art survey of the century-old definitional debate. Unlike other similar articles, BM makes some novel (and eye-brow-raising) conclusions: 1) modern economists do not subscribe to a homogeneous definition of their subject; 2) this disagreement does not necessarily pose a problem; 3) different authors use different definitions to direct the way they want the subject to move and influence its practice. I argue that their statements are linguistically and epistemologically weak and that they have failed to substantiate their claims.
    Keywords: Backhouse and Medema; economics definition; homogeneous definition; material welfare; scarcity and choice; the boundary of economics.
    DOI: 10.1504/IJPEE.2023.10056440
  • Analysis of consumer behaviour in e-purchasing online courses post COVID-19   Order a copy of this article
    by Neha Anand, Kavita Indapurkar, Anuradha Jain 
    Abstract: E-commerce saw a booming trend during the COVID-19 pandemic when physical businesses were locked down. This paper investigates how this trend has affected the education sector in terms of online courses. The paper aims at discussing the factors that affect the decision of working and non-working individuals with bachelor's and master's degree to purchase online courses and then use the knowledge of those factors, to help producers and distributors to build business strategies for selling these online courses. A principal component analysis was conducted on the actions that affect a working professional and non-working individuals' decision to purchase online courses. Furthermore, multiple regression analyses revealed that the goodwill of the institutes that provide these online courses and the attitude of consumers have a preponderant effect on the decision of consumer's, i.e., working professionals and non-working individuals to buy online courses.
    Keywords: exploratory factor analysis; EFA; multiple regression analysis; consumer purchasing; education; online courses working; non-working individuals.
    DOI: 10.1504/IJPEE.2023.10056505
  • Teaching modern monetary theory: a classroom exercise   Order a copy of this article
    by Will Fisher 
    Abstract: Since the Great Financial Crisis of 2008, modern monetary theory (MMT) has gained significant notoriety in the popular press as well as having stimulated academic discourse. Students are becoming increasingly inquisitive about the large fiscal stimulus following the 2008 crisis and during the COVID-19 pandemic and want to know where this money came from. MMT provides important insights into how federal spending, the Federal Reserve, and the banking sector actually operate. MMT can be confusing to students as it contravenes the dominant narrative surrounding money creation, budget deficits, and the national debt. This classroom exercise allows students an opportunity to learn about key characteristics of MMT by having them participate in a simulated classroom economy. The exercise is very useful in an intermediate macroeconomics, or money and banking class.
    Keywords: modern monetary theory; MMT; chartalism; classroom exercise; sectoral balances; pedagogy; economics education.
    DOI: 10.1504/IJPEE.2023.10056433