Teaching Marginal Analysis: On the Importance of Emphasising the Second-Order Condition

Akihito Asano

doi:10.1016/S1477-3880(15)30125-0

Teaching Marginal Analysis: On the Importance of Emphasising the Second-Order Condition

Akihito Asano^*

^*Corresponding author for this work

Research output: Contribution to journal › Article › peer-review

2 Citations (Scopus)

Abstract

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.

Original language	English
Pages (from-to)	46-59
Number of pages	14
Journal	International Review of Economics Education
Volume	5
Issue number	1
DOIs	https://doi.org/10.1016/S1477-3880(15)30125-0
Publication status	Published - 2006

Access to Document

10.1016/S1477-3880(15)30125-0

Cite this

@article{b99e0d4837c44ba384cc614bbebbe56b,

title = "Teaching Marginal Analysis: On the Importance of Emphasising the Second-Order Condition",

abstract = "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.",

author = "Akihito Asano",

note = "Publisher Copyright: {\textcopyright} 2006 Economics Network, University of Bristol.",

year = "2006",

doi = "10.1016/S1477-3880(15)30125-0",

language = "English",

volume = "5",

pages = "46--59",

journal = "International Review of Economics Education",

issn = "1477-3880",

publisher = "Elsevier B.V.",

number = "1",

}

TY - JOUR

T1 - Teaching Marginal Analysis

T2 - On the Importance of Emphasising the Second-Order Condition

AU - Asano, Akihito

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 - https://www.scopus.com/pages/publications/84900329950

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 -

Teaching Marginal Analysis: On the Importance of Emphasising the Second-Order Condition

Abstract

Access to Document

Other files and links

Fingerprint

Cite this