Shutdown Decisions – The Role of Variable and Fixed Costs
George Orlov, Cornell University-Endowed Colleges
Students will discuss full and partial shutdown decisions in a context of a small business (bagel shop) which, with the advent of cold weather, considers closing its patio, keeping it open and putting up heating ...

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.

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 ...

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.

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.

US China Trade War - An Application of the AD/AS Model
Ann Werboff, Northern Arizona University
In this activity, students will analyze some of the events in the US China Trade War in 2018 using the AD/AS model and discuss the implications of tariffs.

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 ...

Game Theory Simulation Exercise: Pricing Prisoner's Dilemma
Alan Green, Stetson University
Student teams act as firms and make strategic pricing decisions. Each firms' profits depend on all of the teams' decisions.

Supply and Demand in the Context of Uber Surge Pricing
Carlena Ficano, Hartwick College
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 ...

Price Controls
Siny Joseph, Kansas State University
Students will answer questions related to a Planet Money podcast "Big Government Cheese" and reinforce their understanding of implications of price controls and market outcomes.