Great Economists Treasure Hunt
Federal Reserve Bank of San Francisco

Review by Gabrielle Spencer
Econ 3053
4/13/05

Ye Treasure Hunt

“If yer answer’s wrong, try again or ye’ll be walking the plank,” was included in the challenge on this website’s opening page. It was an immediate attention getter, and definitely made me want to explore the site. First, I tried to take the test with no preparation, and see if I would indeed have to walk a plank. I was a little disappointed when I was simply told I got a 33%, and a, “would I like to try again.” I had expected with the build up of the opening page that I would at least see a picture of a “cutthroat pirate” at the end.

Even with the disappointing graphics, I tried once again to complete the test to see if I could win my “just reward.” The second time through, I used the cheat sheet provided to obtain my answers. The brief history of Economics and its theories was concise and interesting. The timeline of the history began in the 17th century and worked its way through to some of the modern theories that are being studied today. It’s always an eye-opener to realize there is a wealth of knowledge in an area that one may not think about on a day-to-day basis unless immersed in the field.

The brief history of modern economics begins by letting the reader know where the word “economics” comes from and its original meaning. It goes on to state that different schools of economics are each addressing the same economic problems and each has the same “motivating force” of understanding the economy. It begins with the Mercantilists who believed that wealth came from the accumulation of gold and silver. It briefly talks about Karl Marx and his Marxist theory, and finally the Keynesian school which insisted on direct government intervention to stabilize the economy. The web site summarizes the history with some of the modern theories currently being debated.

Of course, after having read the history, I had to try taking the test once again. Sad to say, I had to take the test a couple more times before I had all the answers correct. This forced me to review pieces of the history I didn’t absorb the first time. Once I received a perfect score, a certificate was e-mailed to me. As a young child, that would be a source of great pride. It would also give a child something concrete to show parents and teachers his or her accomplishment.

Although I enjoyed the website, as a future teacher, I feel the website is geared towards the older student. A child must have mastery over certain vocabulary in order to comprehend what is contained in the site. The website is also an “information in, information out” type of activity. This sort of activity would not be highly desired as a way to teach about the history of modern economics, but maybe as a small part of a bigger lesson. It does not provide a hands-on approach, and does not provide a way for students to interact in a class setting. It could easily be modified into a class game, or used as a homework assignment to augment an economic lesson.