Bounded rationality is a key concept with implications across all areas of economics. To help students better understand the nature, causes and forms of bounded rationality in individual choice, the authors present a flexible classroom experiment. Beyond providing students with some first-hand evidence of bounded rationality, the experiment shows…

Since the 1980s, the Maryland Collegiate Honors Council has offered an annual conference on a host campus in late February. In 2020, MCHC slipped in the conference just before the apocalyptic arrival of COVID-19 in March. Because this conference is hugely popular statewide, we decided to organize it virtually in 2021. Our topic--"In…

The authors present two classroom experiments on technology licensing. The first classroom experiment introduces the concept of royalty stacking. Students learn that noncooperative pricing of royalties for complementary intellectual property rights leads to a double-marginalization effect. Cooperation solves the problem and is welfare-improving.…

This paper provides details on a classroom experiment that focuses on returns to foreign assets given uncertain future exchange rates. Students are assigned the role of foreign analysts and decide how much to invest abroad given their expectations about future exchange rates. The experiment allows students to practice calculating the returns to…

In this article, the authors describe a classroom experiment on exchange rates appropriate for undergraduate courses in macroeconomics, international economics, and money and banking. Student teams compete by managing virtual portfolios of six foreign currencies over a period of several weeks. Trading requires a few minutes in class. Students gain…

In this study, we present an educational design experiment seeking to promote interaction and knowledge sharing in groups and to establish a sense of community among students during a semester at Aalborg University, Denmark. The experiment is materialised as a tangible artefact in the form of a colourful box with materials and texts. Some of the…

The authors describe how the Monty Hall Dilemma, a well-known choice anomaly, can be demonstrated with a simple and versatile classroom experiment. In addition to demonstrating the anomaly, the experiment can be used to introduce students to some institutional modifications that have been shown to ameliorate it. This experiment, which can be…

The authors present a version of the Diamond-Mortensen-Pissarides model of unemployment that is accessible to undergraduates and preserve the dynamic structure of the original model. The model is solvable in closed form using basic algebra and admits a graphical representation useful for illustrating a variety of comparative statics. They show how…

In this study, the author describes a classroom experiment on new trade theory appropriate for undergraduate international economics and trade courses. Students portray U.S. and Japanese automobile manufacturers with different average cost schedules. There are five rounds in the experiment, starting with autarky in the 1960s and ending with the…

When five theological schools realized (a) their graduates affirmed vocation as central to their theology and practice, yet (b) the parishioners of their graduates nevertheless did not feel called, they knew they had to do something. For six years, faculty teams from these schools conducted a variety of experiments in pedagogy, curriculum reform,…

The benefits of undergraduate research are well documented, and many colleges and universities include a senior research requirement for graduation. In addition, most science curricula attempt to include discoverystyle, laboratory components to prepare students for their research experiences and to expose them to research methods in different…

In this article, the author presents an asymmetric version of the familiar public goods classroom experiment, in which some players are given more tokens to invest than others, and players collectively decide whether to divide the return to the group investment asymmetrically as well. The asymmetry between players raises normative issues about…

When they arrive at community colleges or open-enrollment universities, most students take placement exams in English and mathematics to determine whether they are ready for college-level courses. Students with low scores are referred to developmental--remedial--courses. Forty percent of all entering college students and over half of entering…

A multipart laboratory activity introducing microbeads was created to meet engineering and engineering design practices consistent with new Next Generation Science Standards (NGSS). Microbeads are a current topic of concern as they have been found to cause adverse impacts in both marine and freshwater systems resulting in multiple states proposing…

The author provides a general model to incentivize student involvement in an economics course on an ongoing basis. Rather than presenting students with a discrete number of diverse experiments to illustrate different economic concepts, he opts for the adoption of a single experiment that lives for the duration of the semester. This approach…