ASSESSING THE EFFECTIVENESS OF MUSIC LYRICS IN CONVEYING ECONOMIC CONCEPTS

INTRODUCTION An examination of the economics education literature raises questions regarding the instructional practices of economics instructors. Peer reviewed journals are filled with articles presenting innovative assignments and techniques for teaching economics. However, periodic survey results suggest that the vast majority of economics instructors remain firmly committed to the traditional chalk and talk approach to instruction (Watts & Becker, 2008; Becker & Watts, 2001; Becker & Watts, 1996). Watts and Becker (2008) argue that their survey provides evidence that economics instructors are slowly beginning to move away from the traditional approach in favor of more innovative instructional methods. We are puzzled by the fact that journals are filled with examples of educational innovation yet survey data show only a limited departure from the traditional chalk and talk. Perhaps chalk and talk remains popular because experience reveals that it is most effective. Colander (2004) warns that economics instructors should not get consumed in the delivery of a course but rather should focus on the content of the course. The quality of a course is ultimately a function of the content; innovative delivery can, at most, build on the foundation established by substantive content. Regardless, the challenge facing economics education research is to assess the effectiveness of innovative approaches to teaching economics so as to validate innovative approaches to instruction. As economists, we are acutely aware that scarcity implies choice and that every choice of how to use class time comes at a cost. At issue is whether the marginal benefits of an innovation offset the associated marginal costs. This study evaluates the efficacy of using songs (music and lyrics) to complement substantive content presented using a conventional lecture format. Our intent is to stimulate evaluation of innovations reported in pedagogical articles so as to elevate the innovations that improve instruction and to eliminate innovations that interfere with learning. Section II reviews the salient literature. Section III states the guiding research question and associated hypotheses. It also describes the research design of the study. Section IV summarizes the data and presents the econometric model. In Section V we report our findings. Discussion and concluding remarks in Section VI complete the paper. LITERATURE REVIEW While traditional chalk and talk dominates economics instruction, alternative approaches to teaching economics are commonly employed by economics instructors (Becker & Watts, 1995; Becker & Watts, 2001; Watts & Becker, 2008). Watts and Becker (2008) survey economics instructors and report a litany of alternative approaches (e.g. classroom games, simulations, experiments, literature, the business press, case studies, and cooperative learning) as evidence that economics instruction is moving beyond the traditional chalk and talk approach. Alternatives to chalk and talk have been compiled in an edited volume by Becker, Watts, and Becker (2006). Academic journals chronicle methodological approaches implemented by economics instructors. Watts and Smith (1989) identify an extensive list of references to economic concepts in literature for use in instruction. Watts (2003) compiles literary selections and organizes the excerpts by topic for easy access and comparison. Hartley (2001) presents an entire course reliant on reading material drawn from the Great Books of Western Civilization. McCannon (2007) presents a course designed to develop critical thinking skills that employs game theory to study biblical scripture. Perhaps most famously, although not pedagogical in purpose, Rockoff (1990) posited that Frank Baum intended his Wizard of Oz children's story as an allegorical commentary on monetary policy of the late 19th century. Hansen (2002) has since offered a counter-argument challenging Rockoffs assertion but Dighe (2007) maintains that the Wizard of Oz remains a useful teaching tool to facilitate discussion of the competing interpretations. …