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…

A variety of methods have been used to analyze the kinetics of various processes related to the Diet Coke and Mentos experiment (also known as the soda geyser). However, none of these previous reports has undertaken a quantitative exploration of the dynamics of the creation and collapse of the soda geyser itself. We have therefore devised a method…

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 reflective article offers an account of important lessons I have been taught as an educator in the field of global citizenship education over the last 20 years. The article highlights some of the complexities and challenges in this area, with particular attention to problematic patterns of north-south relations and to the role of education in…

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…

Music played little part in the education of British children before 1853 when Edward Thring was appointed headmaster of Uppingham Grammar School in the English Midlands. Thring created an innovative holistic curriculum for the two dozen boys of this rural boarding school and he appointed a musician as the third addition to his staff to form a…

The "hole-in-the-wall" experiments of 1999, as named by the popular media, started with an Internet-connected computer being embedded in a wall facing a slum in Kalkaji, New Delhi, India. Several studies showed that groups of children, when given access to the Internet, can learn by themselves. Children's academic marks improved, and…

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…

Education experiments frequently assign students to treatment or control conditions within schools. Longitudinal components added in these studies (e.g., students followed over time) allow researchers to assess treatment effects in average rates of change (e.g., linear or quadratic). We provide methods for a priori power analysis in three-level…

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…

Evidence-based reform in education refers to policies that enable or encourage the use of programs and practices proven to be effective in rigorous research. This article discusses the increasing role of evidence in educational policy, rapid growth in availability of proven approaches, and development of reviews of research to summarize the…