The economics profession has been working to become more open, inclusive, and welcoming. The introductory principles of economics courses provide a unique opportunity to teach students of the wider university the value of the field of economics. It is in this setting that instructors' interactions with students show them a welcoming and diverse…

Social media is becoming a more widely used tool to engage students in learning. LinkedIn (linkedin.com) is a professional social networking platform that most college students are encouraged to use, but it is not widely used as an educational tool. In this article, the author describes how LinkedIn was deployed in a principles course to teach…

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…

The author focused on solving problems of third-degree price discrimination under a monopoly by integrating microeconomic theory and spreadsheet modeling. Price discrimination refers to a firm situation in which the same good is sold to different groups of consumers at different prices. First, the author included an introductory math background…

In this article, the author explores how the growing interest in creativity and entrepreneurialism, argued as primary 21st-century skills (Florida, 2002), encourages a focus on the competitive individual and a belief in scarcity. She proposes that we de-emphasize market-based success characterized by individuality, competition, and efficiency to…

The authors use a capital budgeting example to show students how to incorporate price elasticity into financial analysis as an application of what students learn in their microeconomics course. They present simple as well as more advanced price-quantity relationships, and using various "what-if" scenarios; the authors show how risk…

Supported by the Learning by Giving Foundation or other philanthropic sources, many college courses are allowing students to give away charitable grants to nonprofit organizations. In this article, the author shares the experience of a Learning by Giving Economics of Altruism class taught at an introductory level. The class is taught using best…

In this pedagogical contribution the authors extend the traditional three-class tariff employed in the French passenger railway system with the more resonant story of the service quality variations associated with the three passenger classes of the ill-fated RMS "Titanic." In doing so, they provide economics instructors with an…

Traffic congestion and road tolls are familiar economic concepts for most undergraduates; however, students often have difficulty explaining exactly how theoretical principles like externalities and social welfare are related to their real-world experiences, such as driving. The authors present a classroom exercise to demonstrate how congestion…

In this article, the author describes the structure and content of a video game that she developed for a hybrid principles of microeconomics course that consists of two 50-minute lectures and a 50-minute online portion per week. The game comprises seven modules, each of which was assigned to be played during the course of the semester for the…

The author of this article describes a game-theory-based economics class on how people should, and do, form beliefs, communicate, and make decisions under uncertainty. Topics include Bayesian and non-Bayesian belief updating, the value of information, communication games, advertising, political media, and social learning. The only prerequisite is…

How does one learn how to think like an economist without understanding what economists do? Using outside readings can be an effective and straightforward pedagogical tool to teach economic concepts and to expose students to the wide range of topics and methods economists use in their research. Improving students' understanding of what economists…

The author of this article discusses the extensive use and analysis of real-world situations as the core construct on which to build a course in principles of microeconomics. Building on the literature that focuses on current event readings, the goal here is to train students to be able to "do economics." The author details course…

The derivation of conditions necessary for Pareto efficient production and exchange is a lesson frequently showcased in microeconomic theory textbooks. Traditional delivery of this lesson is, however, limited in its scope of application and can be unnecessarily convoluted. The author shows that the universe of application is greatly expanded and a…

The authors adapted a lab-in-the-field experiment emulating the dynamic extraction of a fishery to create a Web-based classroom experiment. The game includes a multi-player version analogous to an open-access problem and a single-player version analogous to the social planner problem. This game is helpful in introductory microeconomics courses to…