A Framework for Developing Spreadsheet Applications in Economics

Abstract

This article presents a framework for thinking about the different types of spreadsheet modeling applications available for teaching economics. Spreadsheet applications are categorized by the degree to which students are involved in the spreadsheet's construction and the degree to which students are involved in the mathematics of the model. Examples of applications from each category call attention to the high degree of flexibility that instructors have in designing spreadsheet applications and suggest alternative ways that the instructor can tailor applications to fit his or her specific instructional style and setting. Although the costs associated with developing spreadsheet applications are significant, the authors believe that the costs are manageable, even for instructors who are new to spreadsheets. They conclude that the advantages imparted to students by carefully tailored spreadsheet applications are significant, and they hope to encourage the development and use of such applications.

The Panel Study of Income Dynamics Online

“…Although our emphasis is on formulating and testing hypotheses in the social sciences, the implicit message about thinking critically and carefully crafting questions is, in principle, far broader and relevant for other disciplines as well. The tutorials also provide a way to demonstrate how Excel can be used to perform calculations that form the basis of statistical testing such as computing and comparing mean values, and this use of Excel may have payo-ffs beyond allowing students to do economic analysis (Cahill & Kosicki, 2001, noted the marketability of spreadsheet skills). Furthermore, because the tutorials provide detailed discussions of the way that different economic phenomena are measured and of generated, categorical, and numerical variables, they can be used to launch discussions about measurement issues and survey methodology.…”

Time-Value Concepts, Bond Valuation, and Corresponding Spreadsheet Functions

“…See the website of the Science Education Resource Center at Carleton College (http://serc.carleton.edu/econ/spreadsheets/do.html) for illustrations of these numerical tools in teaching economics. See also Cahill and Kosicki (2001) for discussions of black box issues associated with spreadsheets.…”

Use of Spreadsheets to Teach Mathematical Applications in Economics

“…In economics spreadsheet software is employed to predict future trends, tax calculation, compilation of payrolls as well estimating revenues. Cahill and Kosicki (2001) demonstrate a framework for thinking about the various forms of spreadsheet modeling usages available for teaching economics. They formulate various applications of spreadsheets and are of the opinion that the teacher can modify applications as per his or her teaching requirements.…”