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Does perfect competition exist? part of Teaching Methods:Team-Based Learning:Activities
In this exercise, students will discuss the reality or perfectly competitive markets. First students will consider the characteristics of a perfectly competitive market for goods and services and discuss how ...
Tax Incidence and elasticity part of Teaching Methods:Team-Based Learning:Activities
This exercise asks student teams to rank their sensitivity to a price change caused by a 10% hypothetical excise tax applied to each of a list of five items. Student rankings will be based on their understanding of ...
Game theory: externalities, the prisoner's dilemma and Nash equilibrium as seen in South Park part of Teaching Methods:Team-Based Learning:Activities
After viewing a brief segment of a South Park episode, students create a game theory matrix and apply the concepts of the Prisoner's Dilemma and Nash Equilibrium.
How do imports affect GDP? part of Teaching Methods:Team-Based Learning:Activities
Imports are perhaps the most misunderstood portion of the GDP identity (Y=C+I+G+NX). This exercise uses real data to have students explore this issue and learn the nuance behind the numbers.
Negative Externalities part of Teaching Methods:Team-Based Learning:Activities
This activity encourages team discussion about negative externalities- the case of disturbing noise and air pollution from the airport to nearby neighborhoods. The discussion raises possible solutions and the ...
Price Ceilings and Venezuela part of Teaching Methods:Team-Based Learning:Activities
This activity will examine a modern instance of price ceilings and the unintended consequences for the local economy. This activity details how the well-intended goal of a government can lead to disincentivizing ...
Supply and Demand in the Context of Uber Surge Pricing part of Teaching Methods:Team-Based Learning:Activities
In this activity, students are asked to determine whether it is better to drive for Uber during busy times and in busy locations when and where surge pricing is in operation or instead to avoid these locations and ...
Understanding the Tragedy of the Commons part of Teaching Methods:Team-Based Learning:Activities
Students will watch a portion of a South Park episode that illustrates the tragedy of the commons and apply the concept to a more serious situation. After viewing the video, will debate and discuss ways to prevent ...
Protectionist versus Free Trade Policies part of Teaching Methods:Team-Based Learning:Activities
Prior to class, students listen and read the following: http://freakonomics.com/podcast/china-eat-americas-jobs/. In this episode, Steven Dubner, Freakonomics host, interviews David Autor, an MIT economist, about ...
Tragedy of the commons game part of Teaching Methods:Team-Based Learning:Activities
This application calls on student teams to depict a tragedy of the commons game in strategic form, identify the Nash equilibrium outcome, and consider policies that might improve on an open-access management regime ...