Economics students at City University will be among the first in the UK to use a new interactive e-learning tool as part of their studies. As well as traditional textbooks, handouts and slides, first year students will be taught macroeconomics using LiveEcon which allows them to run experiments on key economic variables and immediately see the effects in graphs and tables on screen.
The agreement between City University's Department of Economics and The Enterprise Library, LiveEcon's creator, will see LiveEcon introduced in seminars and recommended to students as a core reading material. "Macroeconomics is one of the most difficult subjects for first years to get to grips with because of the various theories, models and equations," said Keith Pilbeam, Professor of International Economics and Finance at City. "We can teach them the algebra, but with LiveEcon they can actually see the impact of changing government spending or the tax rate in front of their eyes. This is a really exciting development and complements our existing teaching methods very well." Professor Pilbeam added that LiveEcon would give economics students a taste of the real world. "Today's students don't always get the chance to manipulate data using diagrams and LiveEcon will help them to understand and learn the subject faster and in greater depth," he said. "Much modern economics is delivered using technology so introducing them to new computer software will also increase their employability."
The City University students will tackle the first volume of LiveEcon, Macroeconomics Principles, which covers the standard first year syllabus. They will be guided through moving tutorials accompanied by explanatory text covering all the main issues of economic theory, before testing their understanding through interactive question-and-answer sessions at the end of each chapter. As part of the agreement, City University will give The Enterprise Library formal feedback on LiveEcon which they can use to develop future volumes of the e-learning tool.
Charles Jordan, Chairman of The Enterprise Library, said he was looking forward to seeing how City University used LiveEcon to support its existing teaching and learning methods. "All our research suggests that e-learning should play a huge role in the future of economics education because it makes this subject far more interesting to today's young people," he said. "We're not saying it should replace textbooks, but there is nothing to equal LiveEcon's combination of introductory texts, step-by-step tuition, hands-on manipulation of complex economic models and quizzes."
The City University-LiveEcon agreement follows a recently published report called The Future of Economics Education which revealed a strong feeling among academics and students that the delivery of economics in universities must be improved. Traditional learning resources on their own do not sufficiently engage people in the subject, the report said. It concluded that a more interactive form of delivery would be beneficial, particularly when relating the subject's strong theoretical base to real-life scenarios. |
