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Does perfect competition exist?
Michael Levine, San Bernardino Valley College
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 ...

Economics Topics: Microeconomic Topics:Monopoly and other market structures, Differentiated products

Tax Incidence and elasticity
Tanya Downing, Cuesta College
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 ...

Economics Topics: Microeconomic Topics:Taxes

Negative Externalities
Galit Eizman, Harvard University
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 ...

Economics Topics: Additional Topics:Externalities

Game theory: externalities, the prisoner's dilemma and Nash equilibrium as seen in South Park
C. Lucy Malakar, Lorain County Community College
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.

Economics Topics: Additional Topics:Externalities, Microeconomic Topics:Game theory

Identifying Market Structure in the Fast Food Industry
Ezra Pugh, Glendale Community College
Students use data to determine whether the fast food industry more closely resembles a monopoly, monopolistic competition, or oligopoly, then decide whether regulation is warranted.

Economics Topics: Microeconomic Topics:Competitive markets, Monopoly and other market structures

Monopoly Power under Pharmaceutical Patents
Carlena Ficano, Hartwick College
In this activity, students are asked to identify which among five pharmaceutical patent policy options they believe would be most likely to improve long term societal well being, with the policy options ranging ...

Economics Topics: Microeconomic Topics:Monopoly and other market structures, Regulation and antitrust, Firm production and costs, Additional Topics:Health economics

Price Elasticity of Demand
Doug McKee, Cornell University-Endowed Colleges
Teams are given a list of goods and asked to identify what they think are the most elastic and least elastic.

Economics Topics: Additional Topics:Other

The Tax Game: What are fair and effective tax rates?
Mark Maier, Glendale Community College
Based on an online simulation teams choose from five tax regimes that each collect the same tax revenue but do so with different tax rates. Teams predict the impact of their tax choices and then, based on the ...

Economics Topics: Microeconomic Topics:Taxes

How do imports affect GDP?
Brandon Sheridan, Elon University
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.

Economics Topics: Macroeconomic Topics:International, Measurement, Economic growth, Business cycles

Macrosimulation: What to do in stagflation?
Mark Maier, Glendale Community College
Based on an online macroeconomic simulation for an economy with stagflation, teams choose from a selection of fiscal and monetary policies for one year. The simulation then shows the results of the choice that can ...

Economics Topics: Macroeconomic Topics:Monetary policy, Fiscal policy