Application Exercises


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What is the value of the Yasuní National Park?
Jimena Gonzalez, Manhattan College
This activity is meant for an introductory or advanced environmental economics course that covers valuation methods. Prior to class, students watch 4 short videos explaining valuation methods and listen to an NPR ...

Economics Topics: Additional Topics:Externalities

Competitive market assumptions - men's ball caps
Phil Ruder, Pacific University
In this activity, students are asked to use their intuition and their familiarity with an everyday item sure to be present in the classroom to determine which of the assumptions of the perfectly competitive model ...

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

Firm's reaction to news about profits
Phil Ruder, Pacific University
In this activity, students consider a firm's reaction to news reporting about the level of its profits. The exercise presents the puzzle of a firm's alarmed response to news of positive profits. The ...

Economics Topics: Microeconomic Topics:Competitive markets, Differentiated products, Firm production and costs

Rising firm production costs
Phil Ruder, Pacific University
Students read an article before class and then complete a guided worksheet on the technical model of competitive markets and firms. The AE asks student teams to make their own predictions about long-run events in ...

Economics Topics: Microeconomic Topics:Competitive markets, Firm production and costs

U.S. labor force participation: a jigsaw exercise
Mark Maier, Glendale Community College
Working first in expert teams, then returning to their base teams, students explore reasons for changes in U.S. labor force participation for men, women, younger workers, older workers, Hispanics and ...

Economics Topics: Macroeconomic Topics:Unemployment, Microeconomic Topics:Labor markets

Should your restaurant shut down?
Mark Maier, Glendale Community College
Acting as a restaurant owner students use data on fixed and variables costs, including an unspecified implicit cost of owner's time, to determine if the restaurant should stay open over the weekend before ...

Economics Topics: Microeconomic Topics:Firm production and costs

Should a merger be approved in US ice cream market?
Mark Maier, Glendale Community College
Given data on the US ice cream market (for premium and all store-bought ice cream) teams evaluate a proposed merger between Nestle and Dreyers.

Economics Topics: Microeconomic Topics:Regulation and antitrust

Pricing at Panamint Valley Gas: A contestable monopoly
Mark Maier, Glendale Community College
Teams use cost and revenue data to determine the best price for a contestable monopoly, a gas station in Panamint Valley, California, 50 miles from the nearest gas station.

Economics Topics: Microeconomic Topics:Monopoly and other market structures

Elasticity and tax incidence
Mark Maier, Glendale Community College
This is a two part application exercise. In the first part groups estimate the impact of a property tax on an individual's rent. In the second part groups analyze the impact of a sugar tax on the price of soft ...

Economics Topics: Microeconomic Topics:Taxes, Competitive markets

How can we adjust student college benefits for the cost of living?
Mark Maier, Glendale Community College
Student teams predict the impact of college proposal to adjust financial aid based on inflation measured by the CPI. Students must use concepts related to the construction of price indices.

Economics Topics: Macroeconomic Topics:Inflation, Measurement