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.

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.

Why the AD Curve Slopes Downward
Ann Werboff, Northern Arizona University
Students will create a sequence of events for the three effects that determine the inverse relationship between price level and GDP that determine the shape of the Aggregate Demand (AD) curve. They will also be ...

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 ...

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 ...

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.

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 ...

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 ...

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 ...