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The ongoing digitalization of educational resources and the use of the internet lead to a steady increase of potentially available learning media. However, many of the media which are used for educational purposes have not been designed specifically for teaching and learning. Usually, linguistic criteria of readability and comprehensibility as well as content-related criteria are used independently to assess and compare the quality of educational media. This also holds true for educational media used in economics. This article aims to improve the analysis of textual learning media used in economic education by drawing on threshold concepts. Threshold concepts are key terms in knowledge acquisition within a domain. From a linguistic perspective, however, threshold concepts are instances of specialized vocabularies, exhibiting particular linguistic features. In three kinds of (German) resources, namely in textbooks, in newspapers, and on Wikipedia, we investigate the distributive profiles of 63 threshold concepts identified in economics education (which have been collected from threshold concept research). We looked at the threshold concepts' frequency distribution, their compound distribution, and their network structure within the three kinds of resources. The two main findings of our analysis show that firstly, the three kinds of resources can indeed be distinguished in terms of their threshold concepts' profiles. Secondly, Wikipedia definitely shows stronger associative connections between economic threshold concepts than the other sources. We discuss the findings in relation to adequate media use for teaching and learning—not only in economic education.
The interbank market is important for the efficient functioning of the financial system, transmission of monetary policy and therefore ultimately the real economy. In particular, it facilitates banks' liquidity management. This paper aims at extending the literature which views interbank markets as mutual liquidity insurance mechanism by taking into account persistence of liquidity shocks. Following a theory of long-term interbank funding a financial system which is modeled as a micro-founded agent based complex network interacting with a real economic sector is developed. The model features interbank funding as an over-the-counter phenomenon and realistically replicates financial system phenomena of network formation, monetary policy transmission and endogenous money creation. The framework is used to carry out an optimal policy analysis in which the policymaker maximizes real activity via choosing the optimal interest rate in a trade-off between loan supply and financial fragility. It is shown that the interbank market renders the financial system more efficient relative to a setting without mutual insurance against persistent liquidity shocks and therefore plays a crucial role for welfare.