TY - JOUR
T1 - Teaching Marginal Analysis
T2 - On the Importance of Emphasising the Second-Order Condition
AU - Asano, Akihito
N1 - Publisher Copyright:
© 2006 Economics Network, University of Bristol.
PY - 2006
Y1 - 2006
N2 - Students employ marginal analysis in investigating various problems regarding resource allocation. The majority of first-year students, however, seem to struggle in applying it to a firm′s profit maximisation problem. Their confusion appears to stem from textbooks for introductory microeconomics courses oversimplifying some subtle points regarding the profit maximisation problem. This paper (1) points out how oversimplification may impede students′ understanding, contrary to the instructors′ pedagogical intent, and (2) suggests a complementary method to enhance their understanding of marginal analysis in the course of teaching a firm′s profit maximisation problem.
AB - Students employ marginal analysis in investigating various problems regarding resource allocation. The majority of first-year students, however, seem to struggle in applying it to a firm′s profit maximisation problem. Their confusion appears to stem from textbooks for introductory microeconomics courses oversimplifying some subtle points regarding the profit maximisation problem. This paper (1) points out how oversimplification may impede students′ understanding, contrary to the instructors′ pedagogical intent, and (2) suggests a complementary method to enhance their understanding of marginal analysis in the course of teaching a firm′s profit maximisation problem.
UR - http://www.scopus.com/inward/record.url?scp=84900329950&partnerID=8YFLogxK
U2 - 10.1016/S1477-3880(15)30125-0
DO - 10.1016/S1477-3880(15)30125-0
M3 - Article
SN - 1477-3880
VL - 5
SP - 46
EP - 59
JO - International Review of Economics Education
JF - International Review of Economics Education
IS - 1
ER -