Case Study for Principles of Macroeconomics

Case Study for
Principles of
Fall 2006 Term
Ana C. Corrales
Economics at MDC
• Across all MDC campuses,
approximately 33% of all Principles of
Economics students will be
unsuccessful in their attempt
– Withdraw or Fail
– Evidenced in Macro and Micro
– Data from Full-time Faculty only (2004)
Macroeconomics at MDC
(ECO 2013)
• Transfers for full credit to any State University
• General Education course (Behavioral &
Social Science)
• Required for Business majors
• Gordon Rule Requirement (2,000 words)
• Extensive Graphing
What is a Case Study?
• A real life problem or dilemma which
has no immediate, obvious, single, or
correct solution
It is NOT “What principles can be
conveyed?” but “What can be learned?”
Benefits of Case Studies in
the Classroom
Promote Active Problem Solving
Develop Critical Thinking Skills
Foster Relevancy to Discussions
Encourage Deep, Collaborative Learning
Provide Stimulating, Experimental Scenarios
Present Real-World Application
Create Responsibility for OWN Learning
Harvard Business School
Case Method
• Used with large groups
– Sections have 80 students
Directed discussion - Case Facilitators
Elicits multiple viewpoints
Results in a shared experience
Build teamwork
China In the News…
Opening up its Economy
Transition: Command to Market Economy
Enviable Economic Growth
Outsourcing of Jobs, Production Plants
Demand for Essential Resources
Worldwide Prices of Goods Rising
Beijing Olympics
Environment/Human Rights
WTO Membership
Overvaluation of Currency
US News & World Report Poll:
What is your current perception
of China?
Economic Threat to the U.S.
Violator of Human Rights
Growing Superpower
All of the Above
None of the Above
Case Study: Comparing the
US and Chinese Economies
• Current Events
• Emphasize “Big Picture” View of Macro
• Globalization & Transition Economy
Goal: Find, Read, & Evaluate
Economic Data
Investigate & Assimilate Data
Expose Global Issues
Face Uncertainty
Deal with Complexity
Make Decisions
• Start Small: Group size of 3 to 4 students
– The group or collaborative environment
contributes to the power of case studies
• Comparisons as concepts are introduced
• Focus questions received 1 – 2 weeks prior
to group discussion
• Honors College class
Key Economic Issues
Economic Goals
Economic Systems
Role in Global Economy
Valuation of Currency
Economic Growth
Price Fluctuations
Fiscal Policy
Monetary Policy
Interest Rates
Skills of Labor Force
Case Deliverables
• Group Written Summary Reports
– Include Graphs/Tables US v. China
• Group Presentations
• Roundtable Discussions
• Postings to Discussion Board
Resources for Students
The Economist
The Washington Post
NPR’s Marketplace and Morning Edition
US News & World Report
Financial Times
Kidon Media Link
China News
China Economic Review
China Window
Rand Corporation Report
Next Steps
• Establish classroom norms for discussion
• Develop a list of focus questions that
challenges students to go beyond obvious
– Reflecting Application, Evaluation and
Synthesis from Bloom’s Taxonomy
• Feature Case Study in Faculty Webpage