Effective teaching of economics: A constrained optimization problem?

ABSTRACT

One of the fundamental tenets of economics is that decisions are often the result of optimization problems subject to resource constraints. Consumers optimize utility, subject to constraints imposed by prices and income. As economics faculty, instructors attempt to maximize student learning while being constrained by their own and students' limited resources. Some resources are familiar and might be under instructors' control, such as time, class size, and access to technology. Beyond their control is an often neglected resource: students' limited cognitive processing capacity. Ceteris paribus, how can instructors effectively manage the limited processing capacity of students' working memory in order to optimize long-term learning through effective instructional design?

KEYWORDS:

• Cognitive load theory
• learning economics
• strategies
• teaching of economics

JEL CODE:

• A20

Notes

1. This approach might be helpful for learning in a different way, however Brown and colleagues (2014, 221) argued that “generation” of knowledge is useful as it engages the brain in connecting previous knowledge to the problem at hand. That is, this preview prepares the student to learn the material.

2. Another method is the goal-free approach, which eliminates the goal state. The goal-free approach, in general, provides students with a problem and asks them to find as many unknowns as they can. This eliminates the number of elements required to be held in working memory (Sweller 1988).

3. Note that this is not an argument against repetition per se. The act of repeating information previously presented is redundant; it increases cognitive load and reduces learning. Repetition is, in fact, helpful if used in accordance with the learning strategies promoted, such as spacing, interleaving, and retrieval practice. Repetition also plays a role in practices of elaboration and reflection, all of which are helpful to learning.