Abstract:
Many academics, including economics educators, are sceptical about the role of educational research, which they believe is often divorced from their day-to-day teaching practice. If economic education research is to have an impact on teaching practices, it should be empirical and contextualised, i.e. built on sound knowledge of student learning products derived from experiential data in particular contexts. The present study is an attempt in this direction and aims to investigate how commencing students in economics understand the fundamental economic concept of "allocative efficiency".