Understanding modelling in technology and science: the potential of stories from the field

This paper tells the story of how two biotechnologists used models, one working as a technologist and the other as a scientist. These stories were collected during the development of the key ideas about the nature of technology and technological knowledge during the latest curriculum development in New Zealand. Their stories of how and why they used models provided insight into the different role of modelling in technology and science. This difference can be linked to the fundamental difference between technology as a discipline that attempts to intervene in the world and create something other, and science as a discipline that attempts to explain the world. The stories illustrate the differences in the purpose, outcome and the underpinning reasoning across technology and science. We suggest that using such stories supports learning about the nature of technology and the nature of science and provides an opportunity to add a critical dimension to the development of technological literacy and scientific literacy.     

The Role of Economics in Interdisciplinary and Problem-Oriented Programs

Although research on the teaching of economics beyond the introductory course appears to be increasing, it is still rare. This study is one of the few that deals with the intermediate level. Ault and Rutman used a three-part test (one part of which was made up of an essay question) in measuring student knowledge before and after instruction in intermediate theory. They compared an experimental group being taught through a problem-centered format (in combination with the usual lecture-discussion approach) with a control group getting only the lecture-discussion treatment. The experimental students did no better than the control students, but the authors discuss several variables that might help to explain these results.     

Business reactions to the 2001 foot and mouth disease outbreak in Scotland

The paper focuses on two aspects of the 2001 foot and mouth disease (FMD) outbreak in Scotland that have been largely ignored: first, business managers perceptions of the impact of FMD during and immediately after the outbreak; and second, reactions to the outbreak in terms of action taken by businesses and advice sought. A panel survey of non-farm businesses conducted in April, June and September of 2001 is analysed to shed light on these issues. We find that even at the time, the vast majority of businesses did not report any real impact, although businesses in rural areas and in the tourism industry were more likely to feel some impact - either positive or negative. We show that business managers appeared to favour private sources of advice, although some public sources were found to be very useful, and that some actions, such as increased advertising in tourism businesses, could be more effective than others, such as making redundancies. We conclude with a discussion of the implications of the findings for contingency planning in the event of future FMD outbreaks.     

Price discovery in the aluminum market

An extended version of the S. Beveridge and C. R. Nelson (1981) decomposition and a latent variable approach are used to examine how the noise content, and therefore the informativeness, of four aluminum prices that have been quoted at various times since 1970—the (now defunct) U.S. producer price, a transactions price reported in a trade journal, and the LME and Comex exchange prices. It was found that the start of aluminum futures trading in 1978 resulted in greater price transparency in the sense that the information content of transactions prices increased. LME prices quickly came to be more informative than published transactions prices. Although the initial Comex aluminum contract failed to attract liquidity and had low information content, the 1999 contract, trading currently, is as transparent as the LME contract. © 2005Wiley Periodicals, Inc. Jrl Fut Mark 25:967–988, 2005     

Environmental levies and distortionary taxation:: Pigou, taxation and pollution

I note an important distinction between the optimal price of environmental quality in a second-best world and the optimal level of environmental quality. Using an analytical general equilibrium model, I show that for reasonable parameter values, an increase in tax distortions (arising from an increase in required tax revenues) leads to a fall in the optimal Pigouvian tax rate even while environmental quality improves. In general, knowledge of the direction of changes in optimal environmental tax rates due to changes in the economy is not sufficient for understanding the impact on environmental quality.