This assignment aims at making instruction student-centered where students would participate in the curation of content but in an unintentional way. Students participate in classroom games that eventually unravel economic theory and they are unaware that they are doing it. This can be done by running experiments (e.g., double auction, or option to give a fine), collect the information, and sharing it with students. Comparing the results with the findings from the economic theory in textbook or findings in academic articles, will provide students with a better understanding of the material as they would have unintentionally proven or disproven the theory.
Assignment Learning Outcomes
- Understand, derive, and interpret the law of demand.
- Understand, derive, and interpret the law of supply.
- Calculate and interpret the equilibrium, consumer surplus and producer (seller) surplus.
- Interpret and explain the market efficiency.
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