The author investigates the learning efficiency of economic experiments, an innovative instructional tool that re-creates the outside world within the classroom. This tool enables the instructor to create an economic environment whereby students experience how their decisions and interactions create the market forces predicted by the economic…

The authors develop a two-stage classroom experiment to illustrate convergence to long-run equilibrium in a market where price-taking firms are capacity-constrained. Once equilibrium in the first stage is established, capacity constraints are introduced by imposing discontinuities in the fixed costs of several firms. The experiment demonstrates…

The authors' data contain inter- and intra-class variations in experiments to which students in a principles of microeconomics course were exposed. These variations allowed the estimation of the effect on student achievement from the experimental treatment generally, as well as effects associated with participation in specific experiments. The…

The authors outline a pair of classroom activities designed to provide an intuitive foundation to the theoretical introduction of advertising in monopoly markets. The roles of both informative and persuasive advertising are covered. Each student acts as a monopolist and chooses the number of (costly) advertisements and the price. The experiments…

Classroom experiments in economics continue to increase in popularity. While early experiments were often hand-run in class, now computerized online experiments are also widely available. Using a quasiexperimental approach, the authors investigated whether any difference in student achievement (as measured by course scores and the "Test of…

The authors detail an urban economics experiment that is easily run in the classroom. The experiment has a flexible design that allows the instructor to explore how congestion, zoning, public transportation, and taxation levels determine the bid-rent function. Heterogeneous agents in the experiment compete for land use using a simple auction…