Enhancing Enhancing the use of international data the use of international data

by students of economicsby students of economics

Dean Garratt and Stephen HeasellNottingham Business School

6th September 2011

Evidence from an EN funded Evidence from an EN funded projectproject

8 Case studies: structure and content

For various stages of HE Level 1

economics

From classroom to case study

For active student learning with tutor

support

Case Study structureCase Study structure

Data Use

Data Search and Selection

Data Transformation and Interpretation

Review Questions

Summative Assessment task

6 dual-column pages; tables; charts; few equations; short sentences & paragraphs

Case Study topicsCase Study topics

Working with Data (inc international

data) on:

Economic Growth

House Prices

Household Debt

Consumption Spending

Government Finances

3 main messages3 main messages

Use empirical data to retain & deepen

engagement with methods of economics

Use student curiosity & ambition to understand

their complex economic environment

Towards a coherent blend of learning materials

Dean’s perspectiveDean’s perspective

Adopt Problem-Based Learning (PBL) Embed concepts, theories and techniques in

empirical context Use of problems, issues, themes to engage

students with economics Role to play as part of student retention,

including crucial level 1 Develop a sense of ‘economics for a purpose’ Helps ‘unite’ curriculum

Dean’s perspectiveDean’s perspective

Use economic data to enhance deep

learning

Historical comparisons

International comparisons

Inductive and deductive

Raise levels of curiosity

Develop research skills

Dean’s perspectiveDean’s perspective

Develop skills associated with data

extraction, interpretation and analysis

Databases

National Statistics, AMECO, IMF, OECD

Spreadsheet skills

Data manipulation, descriptive stats, charts

Dean’s perspectiveDean’s perspective

Develop other skills associated with

being a professional economist

Skills in briefing and constructing

‘purposeful’ narratives

Apply concepts and ideas to different

scenarios or situations

Steve’s perspectiveSteve’s perspective

Learn about methods used by economists

Applicability of theoretical ideas & methods

embedded in professional pronouncements

• Present information as a production

function

Appeal to interests in & beyond academia

Clear exposition of comparative complexity

Instrumental & dumbing Instrumental & dumbing down?down?

Yes to the first, if we do it right

Emphatically no to the second, at least not intentionally

A recurring minority comment on our case studies is that they seem challenging for Level 1 students

Ideas addressed in the Case Ideas addressed in the Case StudiesStudies

Economic concepts & theory embedded in data

Interpret data, using economic theory

Use quantitative methods for economic insight:

Nominal and real measures

Stock measures and flow measures

Measures of value & monetary measures of volume

And more ideas…And more ideas…

Specific data-related issues: eg Choice of data

Seasonally-adjusted/cyclically-adjusted

Reliability & timeliness

Use of proxies

Use of plural sources together

Risk of misleading over-interpretation

Complexity of comparisonsComplexity of comparisons

Levels, growth rates & differing growth

rates

Rates of change, trends & volatility

Ratios, percentages & proportions

Frequency of data

Longitudinal comparisons, differing data

sets

Evidence from an EN funded Evidence from an EN funded projectproject

Case studies: structure and content

For advanced Level 1 HE students of

economics

From classroom to case study: successes

and limitations

Case Study structureCase Study structure

Data Use

Data Search and Selection

Data Transformation and Interpretation

Review Questions

Summative Assessment task

6 dual-column pages; tables; charts; few equations; short sentences & paragraphs

Case Study topicsCase Study topics

Working with Data on…

Economic Growth

House Prices

Household Debt

Consumption Spending

Government Finances

Empirically-led LT for Empirically-led LT for EconomicsEconomics

Empirically-informed LT:

in using economic concepts

in producing economic data

in presenting data for decision makers