Peter Coy: How to Use Storytelling as a Teaching Tool

How do you teach economics to hundreds, or even thousands, of college students? Eric Kam, a professor at Toronto Metropolitan University known for teaching very large classes, says the answer lies in what he refers to as "edutainment." From cordless mics and aisle-walking to spontaneous storytelling and a crowd‑winning verse of "Rapper's Delight," Kam treats each class more like a performance than a lecture. Speaking with St. Louis Fed Economic Education Officer Scott Wolla, Kam discusses the logistics of managing economics classes with hundreds of students and how, when professors show their humanity, it can build "humanity at scale."

As a young reporter, Peter Coy jumped at an unexpected opening on the economics beat. He got the job and launched a long career explaining complicated economic trends as a writer for The Associated Press, Businessweek and now The New York Times, where he is a freelance contributor. In this episode, Coy joins St. Louis Fed Economic Education Officer Scott Wolla to discuss how good storytelling is a teaching tool that can make complex ideas accessible for students and the public alike.

Journalist and podcaster Stacey Vanek Smith shares how a love of storytelling and curiosity about the world led her to a career translating economic trends into engaging narratives. From public radio to Bloomberg Businessweek, she has built a reputation for making complex ideas accessible. In a conversation with St. Louis Fed Economic Education Officer Scott Wolla, Vanek Smith explains how connecting economics to everyday experiences can help students grasp difficult concepts.

Harvard University economist John Y. Campbell and Imperial College London economist Tarun Ramadorai were both drawn to the field's blend of history, human behavior and analytical rigor. Together, they wrote the book Fixed, in which they make the case that economic education is a key part of helping consumers navigate a diverse landscape of financial products. Speaking with St. Louis Fed Economic Education Officer Scott Wolla, Campbell and Ramadorai also discuss practical ways teachers can help students better understand markets, incentives and consumer choices.

When designing an economics class, sometimes the best approach is to start in reverse. In this episode, University of Nebraska-Lincoln professor Sam Allgood discusses the power of "backward design." It's a technique that encourages educators to first think about what they want students to master by the end of a course before developing individual lesson plans. Allgood also discusses with St. Louis Fed Economic Education Officer Scott Wolla the value of having a growth mindset in the classroom and how AI can be used to create individualized learning content. 

David Autor, MIT's Daniel and Gail Rubinfeld professor of economics, is a leading thinker and researcher on how AI could reshape the labor market. While he says AI could revolutionize how we work, it won't replace human intuition. In this episode, Autor joins St. Louis Fed Economic Education Officer Scott Wolla and explains how he challenges students to use technology as a collaborator, not a crutch. He also discusses his approach for pushing students to focus on how economics can solve real-world problems. 

Could brain science help unlock students' understanding of complex economic topics?  In this episode, St. Louis Fed Economic Education Officer Scott Wolla explores that question with educator and author Patrice Bain. Bain spent years working with cognitive scientists to better understand how people learn and wrote about her findings in her book "Powerful Teaching." She shares her four "power tools" for learning and how they can be applied to economic education.

In this episode, University of Chicago professor John List shares his unique approach to teaching economics. Unlike traditional methods, List begins by exploring real-world questions that intrigue his students, using their interests to frame lessons on economic principles. He talks with St. Louis Fed Economic Education Officer Scott Wolla about how his own curiosity and experiences as a baseball card collector led him to economics. List also explains how he aims to inspire the same curiosity in his students, using field experiments and behavioral economics to help them better understand and apply complex economic concepts in their lives. His innovative teaching methods have made his course a hit at the University of Chicago, demonstrating the power of economic thinking in everyday life.

Tulane University professor Gary Hoover shares how his personal journey to the field of economics shaped his teaching philosophy. Hoover also reflects on the mentors who changed his life, the importance of making economics real and relevant, and the responsibility educators have to meet students where they are. "Hoov," as he's known, talks with St. Louis Fed Economic Education Officer Scott Wolla about how economics isn't just about markets—it's about people—and how great teaching means equipping students with tools to answer their own questions.

Wendy Stock, a professor of economics at Montana State University, doesn't begin the first day of the semester reviewing a syllabus with her students. Rather, she asks them what topics in the world are the most important to them. Stock then uses their answers to frame lessons about how economics can help them better understand what they feel most affects their lives.   In this episode, Stock talks with St. Louis Fed Economic Education Officer Scott Wolla about how her own curiosity led her to economics and how she hopes harnessing her students' curiosity will help them better grasp complicated topics.