Application of Mathematical Induction in Teaching of Macro Economics: In Example of Teaching Based on IS Curve

Abstract

Traditional macroeconomics is taught based on teacher-leaded explanation on theories, analysis and illustration on models and curves. Students are studying passively with low participation and poor efficiency in class. Our work explores mathematical induction in macroeconomics education aiming at abstractive theory and passively studying in economics class. In this paper, application of mathematical induction in teaching IS curve theory is used as an example to demonstrate issues existed in teaching IS curve. In addition, focusing on those issues, we design corresponding in-class questions and processes by following the concept of mathematical induction, as well as different education goals on different problems. And finally we discuss both pros and cons of such method applied to IS curve teaching.