Managerial economics

About: Managerial economics is a research topic. Over the lifetime, 1524 publications have been published within this topic receiving 83965 citations.

A Hybrid Approach to Teaching Managerial Economics

Abstract: Many institutions in higher education are experimenting with hybrid teaching approaches to undergraduate courses. Online resources may provide a number of advantages to students as compared to in-class approaches. Research regarding the effectiveness of hybrid approaches is mixed and still accumulating. This paper discusses the use of a hybrid teaching approach for a Managerial Economics class. Identical multiple-choice questions from previous semesters are used to compare student performance in hybrid classes versus traditionally taught classes. Results suggest that student performance is lower in hybrid classes as compared to traditional classes. The differing student performance suggests that the complexity of material in some courses may not be suitable for a hybrid approach.Keywords: Economics, business, teaching, flipped instruction, hybrid instructionJEL Classification: A22 ; M00PsycINFO Classification: 3530FoR Code: 1301; 1501IntroductionThere has been an increasing use of technology in higher education. Many institutions have experimented with "hybrid" or "flipped" courses which substitute online exercises and resources for class time. Overall, such hybrid approaches have generally shown mixed results (Akkoyunlu & Soylu, 2008; Ginns 8i Ellis, 2007; Love, Hodge, Grandgenett, & Swift, 2014).Online resources may present several advantages over traditional lecture and discussion. First, students can utilize online resources at a time of their choosing. Second, online assignments often have multiple attempts. Third, online assignments are by default open-book. Fourth, students can engage in discussion with other students for online assignments.If the online resources work as predicted, a hybrid approach could increase student learning at the same time that it decreases instructor time for delivering lecture in the classroom. Thus, this approach could be beneficial for both parties. The hybrid approach may also reduce cost if more students could be served with this approach. The primary Research Question is whether a hybrid teaching approach could improve student learning in a Managerial Economics class. The method for evaluating this question is to compare student performance on identical multiple-choice questions from previous semesters (taught by the same instructor). Other secondary topics of interest are overall student satisfaction with a hybrid course, and the potential increased load on the instructor for preparation and administration. This paper discusses the results of this trial.Literature ReviewHybrid or blended learning seeks to improve learning through a combination of face-to-face instructional time and online instructional time (Garrison 8i Kanuka, 2004). Blended learning can take a number of forms but relies on basic educational principles (Garrison 8i Vaughan, 2008). Effective practices in blended learning have also been identified (Mortera-Gutierrez, 2006).Hybrid or blended approaches have been used in a variety of business courses, including graduate business courses (Chen & Jones, 2007). As mentioned above, the overall results from hybrid or blended courses have been mixed as far as student performance, and that is the case in the field of business as well. A hybrid approach for an undergraduate accounting course improved student performance (Dowling, Godfrey, & Gyles, 2003). A hybrid approach to introductory economics showed no change in student performance (Olitsky, & Cosgrove, 2014). In an undergraduate microeconomics course, student performance was weaker in a hybrid section as compared to a face-to-face section (Verhoeven, & Rudchenko, 2013).Other studies have looked at student perception and satisfaction with hybrid courses. In the study of a hybrid marketing planning course versus the traditional, students preferred the traditional course (Haytko, 2001). A study in undergraduate economics showed the availability of online tools in a blended course improved student motivation (Van Der Merwe, 2007). …

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Forecasting and monetary policy analysis: new empirical evidence

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