Telling My Story: Applying Storytelling to Complex Economic Data

Abstract

Our experience with business and economic students indicates limited understanding and confidence when working with macroeconomic data such as unemployment rate, labor force participation rate, business cycles, and price indexes. To close this gap, the authors have developed and evaluated a college classroom experiential activity defined as the Storytelling Project (SP) conducted in nine principles of economics courses in a mid-size private university over a period of two years during the COVID-19 pandemic. In the SP, students wrote personal stories that assisted them in connecting with their audience and then visually presented complex economic data. A workbook supplemented the SP with learning objectives, tasks, multiple examples of data analysis, storytelling techniques, and videos. Participants completed a self-efficacy and attitude survey of perceived cognition, confidence, and motivation and took an assessment to evaluate cognitive competencies. The survey and assessment results were compared against students who did not complete the SP. Our results indicate that the SP and the workbook are effective experiential learning activities that improve data analysis and communication skills among college students. Students show more confidence and motivation in macroeconomics and data analysis at the end of the semester. Knowledge or cognitive competency is ranked higher among those completing the SP.

Keywords: Communication skills; Experiential learning; Macroeconomic data analysis; Pedagogical tools; Storytelling.

Fig. 1

Test Results by Groups. Note Total number of observations 50. All students completed the test questions, but the investigators were able to collect only 50 out of the 196 tests. Test questions are presented in Appendix 3