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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

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

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

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

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

The official CPI and bias
Grace Eau, Georgia State University
This activity aims for students to gain insights about the problems in measuring a price index.

Economics Topics: Macroeconomic Topics:Inflation

Environmental policies to address the externality of single-use plastic straws
Jimena Gonzalez, Manhattan College
Prior to class, students read the following news article: https://www.npr.org/sections/thesalt/2018/05/31/615580695/last-straw-for-plastic-straws-cities-restaurants-move-to-toss-these-sippers. Students learn about ...

Economics Topics: Additional Topics:Externalities

Housing Starts: A Leading Economic Indicator of a Recession?
Laurence Malone, Hartwick College
The Activity Exercise Housing Starts: A Leading Economic Indicator of a Recession? shows students how to measure and explore the important role of new home construction in American economic growth.

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

Price Ceilings and Venezuela
Elisa Queenan, Porterville College
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 ...

Economics Topics: Microeconomic Topics:Regulation and antitrust, International, Competitive markets