According to the cognitive load theory of multimedia learning, a multimedia message enters the cognitive system first through the learner’s verbal and visual channels, which are ears and eyes. The incoming sounds and images are stored temporarily in sensory memory. From sensory memory, some selecting images and sounds transfer to working memory for additional processing because people have limited capacity in each channel at any one time. Therefore, instructional materials must be designed so that a channel is not overwhelmed with unnecessary information. Then, working memory organizes those images and sounds into a coherent structure (pictorial and verbal models) and integrates them with relevant prior knowledge from long-term memory in a meaningful way. (Mayer, 2014)
In economics, we use graphs and figures often, although those figures are not simple because they have their notations and ways to explain them. I think temporal contiguity is used frequently in economics to explain the meaning of graphs for models. This principle suggests that instructors present spoken words at the same time as showing graphs. For example, we provide detailed explanations for each curve (e.g., short-run aggregate supply, long-run aggregate supply, aggregate demand) and equilibrium when we show the short- and long-run equilibria in an economy for the macroeconomics course.
The next principle is spatial contiguity suggesting that instructors need to show corresponding words and graphics next to each other. In economics, we apply an abbreviated name for each curve. However, sometimes it is confusing for beginners or students taking introductory courses in economics. In this case, I would suggest that we could put the printed words with the abbreviated names next to curves when we show a graph for the first time. But after the introduction, we can remove those full names and use general notations. For example, a diagram for the Solow model includes production (y), saving (s*y) or investment (i), and break-even investment (delta*k) curves.
The principle of personalization could fit nicely in economics. This principle recommends using a conversational style rather than a formal one. For example, we can prepare slides with a conversation or Q&A to explain a decision to invest or save.
Q1. When and why do you invest in a project?
A1. A project is less risky but has a higher expected return, so the expected net return is high. … etc.
Using a student’s own experience or some famous investor’s story, we can create a conversational style about saving and investment decisions.
The principle of "pre-training" suggests the instructors provide characteristics of key concepts or components before the lesson (Mayer). To do this, I think we can provide materials including brief definitions before a class and ask students to see them before coming to a class. For instance, before starting to talk about how countercyclical fiscal policy works, we need to remind students of the characteristics of policies and business cycles by providing brief slides with key definitions of policy instruments and phases of business cycles.
The final principle is segmenting which instructors break a lesson into learner-paced parts. In economics, it could be challenging. Suppose an instructor tries to explain how an economy goes to a long-run equilibrium when hit by a negative demand shock. An instructor could show several animated graphs until the final result with long-run equilibrium:
The first graph shows an initial long-run equilibrium in an economy
The graph includes an initial change due to shock, i.e., a moment hit by a negative shock
Then, a change in a short-run equilibrium is added to the graph
The next animated graph will show the mechanism toward a new long-run equilibrium.
Finally, the graph compares the initial and last long-run equilibrium to see an impact of a negative demand shock.