Lecture Clip: Ceteris Paribus

In this lecture clip, Dirk has his classroom create paper airplanes to demonstrate the concept of an economic model and the importance of ceteris paribus in thinking through economic models. Students fly their paper airplanes to the front of the classroom and - by having them tweak one aspect of the design - Dirk is able to demonstrate how changing one variable in a model allows economists to test their hypotheses.

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Category:

Education

Tags:

• ceteris paribus
• economic models
• hypotheses
• Dirk Mateer
• economics