Should professors--but not their students--use chatbots?

NYTimes:

Ella Stapleton said she was surprised to find that a professor had used ChatGPT to assemble course materials. “He’s telling us not to use it, and then he’s using it himself,” she said.Credit...

..professors said they used A.I. chatbots as a tool to provide a better education. ...chatbots saved time, helped them ... [grade papers] and served as automated teaching assistants.

Dr. Malan, a computer science professor, has integrated a custom A.I. chatbot ... hundreds of students can turn to it for help with their coding assignments. Dr. Malan has had to tinker with the chatbot ... so that it offers only guidance and not the full answers.

New interactive games to teach supply, demand, and pollution, a "negative externality"

From MarginalRevolution.com:

MRU videos are free for anyone’s use anytime, anywhere and don’t forget there are also two new econ-practice games on negative externalities and positive externalities and a fun choose your own adventure story on Unintended Consequences (most textbooks just teach when regulation works. We are more balanced.)

HIGHLY RECOMMENDED: These are GREAT exercises for teaching students about Demand, Supply, and shifts in Demand and Supply!

Guide to Online Econ Videos

From Marginal Revolution 

• On day one, I show video on how secure Property Rights lead to growth.  The basic idea is simple, if you give owners secure title to their property, they have an incentive to take care of it, invest in it, and move it to its highest-valued use. 
• Others I like but do not assign.  
• Data Analysis Video , note that what he calls omitted variable bias is what I term "correlation vs. causation."
• Mastering Econometrics Video.  

Prompt engineering, how to get the most out of AI

 Freakonomics podcast #556: Great pieces on Prompt Engineering and How to Use AI to come up with Entrepreneurial Ideas using "Constrained Ideation."

• “Master the Art of Prompt Writing: 6 Tips To Writing Better Prompts,” video by CopyAI (2023).
• “Using A.I. to Implement Effective Teaching Strategies in Classrooms: Five Strategies, Including Prompts,” by Ethan Mollick and Lilach Mollick (SSRN, 2023).
• How to use AI to do stuff: an Opinionated Guide

Why intellectual diversity is declining in universities

 NY Times: Why Journalists Have More Freedom Than Professors

But if you told an academic who feared cancellation — a young sociologist, let’s say, with views one tick to Yglesias’s right — that if she were to lose her chance at tenure or dramatically shrink the range of colleagues eager to work with her or lose various research and publication opportunities, “Well, you could always start a Substack,” you would be telling her that she could continue expressing her opinions while ceasing to be an academic. And while I am all for demanding courage and intellectual honesty and related virtues, people calling for those things need to recognize that they’re asking for bigger professional sacrifices and risks from some groups than from others.

This also suggests that university leaders who want to encourage those virtues need to do more than just refuse the formal modes of progressive ideological enforcement (trigger warnings, D.E.I. loyalty oaths) and try to discourage student mobs. They would need to offer some sort of reward structure for intellectual heterodoxy (centrist heterodoxy at least if not, God forbid, conservative), so that young academics especially feel like there are some obvious compensations to go along with the social and professional risks.

…

But in the near term, for the universities most protected by wealth and stature from outside influences, the incentives seem lined up to make academia more stifled-feeling, less intellectually diverse and more ideologically conformist than the world of professional journalism is likely to become.

Why today's students are harder to teach

 The Chronicle of Higher Education has an answer:

... for a confluence of reasons, student attitudes have shifted. For one, what’s considered appropriate for a college professor to say and do in the classroom has changed dramatically, especially around topics of race, gender, and other forms of identity. For another, student deference to their teachers is not nearly as strong as it once was.

Students can be quick to judge a pedagogical choice as harmful, offensive, or superfluous to their education, say some professors, who question if their colleges, which they describe as having adopted a “customer is always right” philosophy, will have their backs if and when the customer is wrong.

In some circumstances, the choices or behavior criticized by students would have been “regarded as benign not very long ago,” said Angus Johnston, a historian of American student-activism who teaches at Hostos Community College of the City University of New York.

While this power shift can be “discombobulating” and “scary” for faculty members, especially older ones, he said, “that does not mean it’s a bad development.”

For example, when I teach the contractual view of marriage to MBA's, it is in a gender-neutral tone. Instead of "I gave him the best years of my life and he traded me in on a younger model," I say: 

If a couple decides to take advantage of economies of specialization, one primarily on a career and one primarily on childcare, the one specializing on childcare can be held up, should the relationship end and they have to re-enter the labor force.  To encourage these kinds of specialized investments in children, the marriage contract is designed to protect victims of hold up.  As the legal penalties for breach of the marriage contract have gotten smaller, we see less of this kind of specialization.  

NOTE:  this is correlation, consistent with evidence supporting the contractual view of marriage, but it could also be that the correlation is spurious, that times have changed, and couples want a more equal division of labor at the same time that the marriage contract has been weakened. 

How does ChatGPT characterize me?

Luke Froeb is an accomplished and highly experienced economist who has made significant contributions to the field of antitrust economics. He has held many important positions throughout his career, including Chief Economist at the Antitrust Division of the U.S. Department of Justice and Director of the Bureau of Economics at the Federal Trade Commission. Froeb is known for his extensive scholarship and research on competition policy, antitrust economics, and industrial organization. He has published numerous articles in top academic journals and has co-authored several highly regarded textbooks on the subject. Additionally, he has served as an expert witness in many high-profile antitrust cases. Froeb is also a respected educator, having taught at a number of universities, including Vanderbilt University where he currently serves as the William C. Oehmig Chair in Free Enterprise and Entrepreneurship. Through his teaching, research, and service, Luke Froeb has become a leading figure in the field of antitrust economics and has played a significant role in shaping antitrust policy in the United States.

Interestingly, it made up this part "co-authored several highly regarded textbooks on the subject."  That is a feature, not a bug, which is a byproduct of the "noise" it adds to its answer.  Without it, the writing seems seems sterile.  

ChatGPT vs. Google Bad on how LLMs are going to change Economics education

General AI is poised to revolutionize many aspects of our lives, and education is no exception. In particular, the teaching of economics is likely to be transformed by the use of AI, with new opportunities for both students and professors. 

1. One of the key ways in which AI will change economics education is in the automation of routine tasks. This includes grading, which can now be done much more quickly and accurately using AI algorithms. This will free up time for professors to focus on other tasks, such as developing new course materials and providing more individualized feedback to students. 
2. Another area where AI is likely to have a significant impact is in the personalization of learning. With AI-powered adaptive learning systems, students can receive individualized instruction tailored to their specific needs and learning styles. These systems can adjust the difficulty and pace of instruction based on the student’s progress and provide targeted feedback to help them improve their understanding of key concepts. 
3. Moreover, AI can provide students with access to vast amounts of data and information that would be otherwise difficult to process. This includes live economic data and simulations of economic models that can help students understand complex economic theories and their real-world applications. 
4. One of the most exciting aspects of AI in education is the potential for new modes of learning, such as gamification and virtual reality. Gamification can make economics concepts more engaging and interactive, while virtual reality can provide students with immersive experiences that allow them to explore economic phenomena in a more dynamic way. 
5. Finally, AI can facilitate new forms of collaboration and peer-to-peer learning. With AI-powered chatbots and social learning platforms, students can connect with each other to discuss economics concepts and receive feedback on their work. They can also collaborate on projects and assignments, sharing their knowledge and expertise to solve complex economic problems. 

In conclusion, the possibilities for AI in economics education are vast and exciting. While there are undoubtedly challenges to be overcome in implementing AI in the classroom, the potential benefits far outweigh the risks. With AI, the study of economics will become more personalized, engaging and dynamic, providing students with the skills and knowledge they need to succeed in the 21st century economy.

===GOOGLE BARD======

Large language models (LLMs) are going to change the teaching of economics in a number of ways.

First, LLMs can be used to create personalized learning experiences for students. For example, an LLM could be used to create a customized study plan for a student based on their individual strengths and weaknesses. This would allow students to learn at their own pace and focus on the areas where they need the most help.

Second, LLMs can be used to provide students with real-world examples of economic concepts. For example, an LLM could be used to show students how the principles of supply and demand can be applied to the current housing market. This would help students to understand economic concepts in a more concrete way.

Third, LLMs can be used to automate tasks that are currently done by teachers. For example, an LLM could be used to grade homework assignments or create practice tests. This would free up teachers to spend more time on tasks that require human judgment, such as providing feedback to students or developing new lesson plans.

Fourth, LLMs can be used to create new forms of economic education. For example, an LLM could be used to create a virtual economy that students could explore. This would allow students to learn about economic concepts in a more hands-on way.

Overall, LLMs have the potential to revolutionize the teaching of economics. By providing personalized learning experiences, real-world examples, and automating tasks, LLMs can help students to learn economics more effectively and efficiently.

Academic Freedom and Intellectual Merit

 From George Mason University Econ. Dept:

American universities have professed allegiance to two ideals. First, the ideal of academic freedom – the right of students and faculty to express any idea in speech or writing, without fear of university punishment, and secure in the knowledge that the university will protect dissenters from threats and violence on campus.

Second, the ideal of intellectual merit – the right and duty of academic departments to hire and promote the most brilliant, creative, and productive faculty in their fields, and admit the most intellectually promising students, without pressures from the administration.

Quinn Connelly on how to write efficiently, like an economist.

Quinn is a former student and professional blogger who writes efficiently, like an economist.  Here
 are my favorite tips:

4. Clarity: “Figure out the one central and novel contribution of your paper. Write this down in one paragraph...The first sentence is the hardest,” so “start with your central contribution.”
6. Skimming: “Your readers are busy and impatient. No reader will ever read the whole thing from start to finish. Readers skim. You have to make it easy for them to skim.”

"Smart" flashcards to learn students names and to teach vocabulary

This month, I began using anki “smart” flashcards to memorize student names  and it has been really helpful.  I also put up the glossary of my textbook on anki cards to help students learn the vocabulary of each chapter.  The anki software is free for computer (they charge if you want to put it on your phone or tablet.)

Here is how the cards work.  On the “front” is a photo of the student, and on the back where they work, job title, and name.  You look at the photo, then “turn it over” and push one of three buttons telling the program whether you got it wrong, whether you got it right, or whether you know it for sure.  Depending on your answers, and how frequently and recently you have seen the card, the built-in Artificial Intelligence of the smart cards will show the card again until you know it.  You see cards you don't know more frequently than those you do.  The program stops after it determines that I have reached my limit; apparently that is the best way to learn.   

I have never been able to learn students names, but this program changed that.  I have taught myself to invent mnemonic’s to help me learn faster.  This came naturally to me when I found myself missing the same names over and over. 

If Lectures and books don't work; try this instead

Books and lectures are remarkably bad at conveying information.  Try this instead:

If pressed, many lecturers would offer a more plausible cognitive model: understanding actually comes after the lecture, when attendees solve problem sets, write essays, etc. ... Listeners’ attention wanders after a few minutes, so wouldn’t we want to interleave the problem-solving sessions with the lecture?... to understand something, you must actively engage with it.

Letter to an undergrad on learning economics

Dear John,

Sorry to hear that your econ classes are not going so well.  Many undergraduate econ classes are built around mathematical models, and largely devoid of application.  This is not the only way to teach the subject, but most econ professors learned it this way, so that is how they teach it. 

First of all, it used to be a lot worse, partly because competition between schools for students was not as intense.  Remember that competition aligns the incentives of firms with the goals of consumers.  Without much competition,  there was little pressure to teach well.  And it seemed as if I had more than my share of bad professors and graduate students teaching the classes. 

I took it as a challenge not to let bad teachers get in the way of my education.  I remember gloating whenever I got a good grade in a poorly taught class.  Although the expression was not yet in use, I would have said "I don't need no stinking professor to learn econ."  It helped to get into a study group.  Made it fun (us against the professor), and being able to talk about the subject with others made it easier to understand.  It is a truism that you don't really understand the ideas of economics until you have to explain them to someone else.  Plus, you won't feel so alienated. 

There are some really good online lectures (with quizzes) on a range of various topics at MR University.  I suspect that listening to these may help you see the point of some of the abstract models you are learning.  I took the development econ class, and it is pretty good.

I will leave you with the horrible truth that education is like everything else in life--you will get out of it exactly what you put into it, no more no less. 

Good luck.  Luke

MBA Teaching tips

WARNING:  Be aware that successful teaching comes in many different forms, and that you have to develop a style that works for you.  Here are some tips that I have found useful.  

Build the course around the deliverables:  Because they are so busy, it is difficult to motivate students to do work that is not tied to deliverables.  So I design the course around the deliverables, and then figure out what I need to teach in order for students to successfully complete the deliverables.  

Put the particular ahead of the general:  I begin each topic with a real business puzzle that motivates the material for the students.  Then I get to the general principles, using as-simple-as-I-can make-them models.

If students are not asking question, they are not engaged:  and if they are not engaged, they are not learning.  Sometimes, I will say more and more outrageous things, just to get students to respond.  And once they do, the class always seems to flow better. 

Slow down:  the most common mistake that I make is to speed up in order to get through the material that I have on my slides or in my teaching outline for the day.  This is folly.  Students have enough trouble absorbing material without you trying to speed through it. Instead, slow down.  Students will absorb very little from fast teaching.

Cold call:  I find that this keeps students engaged in class (fear?), and I don’t accept “I don’t know” for an answer.  I stand there until the student comes up with an answer, and then turn to the student sitting next to him, and ask what they think of the previous answer and why.  I do make exceptions for foreign students who have obvious difficulty with the language. 

Anticipate lethargy:  when I feel that the class has slowed down, I show a video or make students do in-class problems to switch things up.  However, if you do an exercise, or show a video, always debrief it.  What seems obvious to you is not to the students.

Never answer a student’s question directly:  instead, get another student to answer it. 

Never add material to the syllabus:  It is OK to remove assignments from the syllabus, but never add, or shift assignments around.

Paper: Teaching Managerial Economics with Problems Instead of Models

Teaching Managerial Economics with Problems Instead of Models

Luke Froeb

Vanderbilt University - Owen Graduate School of Management

James C. Ward

Vanderbilt University - Owen Graduate School of Management

THE INTERNATIONAL HANDBOOK ON TEACHING AND LEARNING IN ECONOMICS, Gail Hoyt, KimMarie McGoldrick, eds., Edward Elgar Publishing, 2012

Abstract:
In this chapter, we address the problems of teaching microeconomic principles to business students. We describe the peculiar features of student demand that make teaching economics using a model-based pedagogy unsuccessful. We conclude that a problem-solving pedagogy is a better way to satisfy student demand for business education.

Keywords: Managerial Economics, Business Education, Problem-Solving Pedagogy, Microeconomic Principles

JEL Classifications: A22, A23

Paper on how our book teaches economics to business students

Teaching Managerial Economics with Problems Instead of Models

Luke Froeb 
Vanderbilt University - Owen Graduate School of Management
James C. Ward 
Vanderbilt University - Owen Graduate School of Management
THE INTERNATIONAL HANDBOOK ON TEACHING AND LEARNING IN ECONOMICS, Gail Hoyt, KimMarie McGoldrick, eds., Edward Elgar Publishing, 2012 
Abstract: 
In this chapter, we address the problems of teaching microeconomic principles to business students. We describe the peculiar features of student demand that make teaching economics using a model-based pedagogy unsuccessful. We conclude that a problem-solving pedagogy is a better way to satisfy student demand for business education.


Keywords: Managerial Economics, Business Education, Problem-Solving Pedagogy, Microeconomic Principles


JEL Classifications: A22, A23

Teaching resources

Stossel in the Classroom

Our 2011 Edition Free DVD Is Here! Use this link to come to our site to order our brand-new 2011 Edition DVD. The DVD includes six new video segments, both English and Spanish subtitles, and an accompanying Teacher's Guide (also in English and Spanish) containing lesson plans, activity suggestions, viewing guides, and vocabulary.http://stosselintheclassroom.org/selectdvd.php 

We've got a second new DVD available as well—the most popular segments from our previous DVDs (2007, 2008, 2009, and 2010 Edition DVDs), all on one disk. The "Best of Stossel in the Classroom" is replacing these older edition DVDs, which will no longer be available. 

Economic Games

GameTheory.net

The Great Repression

A layman's guide to the crash: this makes for good teaching or reading material:

Had it not been for the frantic efforts of the Federal Reserve and the Treasury, to say nothing of their counterparts in almost equally afflicted Europe, there would by now have been a repeat of that “great contraction” of credit and economic activity that was the prime mover of the Depression. Back then, the Fed and the Treasury did next to nothing to prevent bank failures from translating into a drastic contraction of credit and hence of business activity and employment. If the more openhanded monetary and fiscal authorities of today are ultimately successful in preventing a comparable slump of output, future historians may end up calling this “the Great Repression.” This is the Depression they are hoping to bottle up—a Depression in denial.

Webinar on teaching MBA's to solve problems with economics

From: Betty Jung

Join us online with author Luke Froeb| View this message with images

Register Today

Join us online with author Luke Froeb Dear Professor Klein: Please join us for an online discussion about "Teaching MBA Students How to Solve Problems Using Economics" with author Luke Froeb. During this session, Professor Froeb will talk about how he uses his book in executive, full-time, and part-time degree and non-degree programs at Vanderbilt University. Professor Froeb has put two short (seven-minute) lectures that illustrate the basic problem-solving pedagogy on YouTube.com. This event will take place via WebEx (an online meeting manager) in addition to a simultaneous conference call. All you need to participate is a computer with an Internet connection, as well as a separate phone line. The session will last approximately one hour and will be held on: Wednesday, September 24, 2008 at 1 PM Eastern, 12 PM Central, 11 AM Mountain, 10 AM Pacific If you have questions about registration, please contact Adrienn Szabo, Online Workshop Manager, at adrienn.szabo@cengage.com or 650-413-7459. We look forward to your participation in this and other upcoming events! Sincerely, Betty Jung Marketing Manager, Economics Teaching MBA Students How to Solve Problems Using Economics Wed., Sept. 24, 2008 1:00 PM Eastern 12:00 PM Central 11:00 AM Mountain 10:00 AM Pacific Presented by:Luke Froeb, author of Managerial Economics: A Problem Solving Approach

Learn the "intuition" of regression

Off to DC to speak at the ABA/Antitrust Spring Meetings, teaching attorneys about how to use regression. I will use a program (Click&Learn Regression) that I wrote to teach attorneys the intuition of regression. Users click on an X,Y graph to create data and watch as the program redraws the regression line. Gives users an intuitive "feel" for the relationship between data and regression. Here are my slides.