Document Type
Article
Department or Administrative Unit
Economics
Publication Date
3-29-2023
Abstract
This paper describes an assignment designed for use in an undergraduate Principles of Economics course. The assignment is a pedagogical tool that encourages collaborative problem-solving and the use of recent up-to-date data from the Federal Reserve Economics Data (FRED) to compute and analyze the price and income elasticities of demand. This tool is an efficient way for undergraduate economics students to understand the price and income elasticity of demand, gain valuable experience using public datasets, and develop their computer skills without taking classes outside of the economics major.
Recommended Citation
Dacass, T. & Dilden, E. (2023). Teaching price and income elasticities of demand using excel and federal reserve economic data. Journal for Economic Educators, 23(1).
Journal
Journal for Economic Educators
Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial-No Derivative Works 4.0 International License.