A Note on Teaching Automation in Undergraduate Courses
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October 3, 2024A growing macroeconomic literature argues that some new technologies are close substitutes for human labor and that the introduction of these technologies drives down wages and employment. This is at odds with the standard model taught to undergraduates, where technological progress and capital accumulation increase the marginal product of labor and the demand for workers, leading to higher wages and employment. I argue that insights from this new academic literature can easily be incorporated into the standard supply and demand framework and used to improve the discussion of labor markets in undergraduate courses.
by Gregory Casey
Casey, G. (2025). A Note on Teaching Automation in Undergraduate Courses. Journal of Economics Teaching, 10(1), 52-66. DOI: 10.58311/jeconteach/ea3661944a76ccdff951029cd76d876f7afda7ae
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