The authors of this article explain how two Veconlab class "experiments" can be used to clarify common points of confusion about the cost curves (sunk, marginal, and average). In each case, the experiment can be motivated, framed, or explained with environmental policy applications that are provided in the suggestions-for-discussion…

The authors of this article propose a simple exercise of monopoly pricing to illustrate complex theoretical results on the welfare effects of group pricing. By exposing students to this exercise, they aim to bridge a gap between the standard textbook analysis of group pricing and more general results in the literature and clarify some students'…

One of the fundamental topics taught in the microeconomics class is minimizing economic costs. It includes understanding the concept of derivatives and applying them. However, most of the first-year undergraduate students find calculus difficult to understand, which also results in poor knowledge of optimization. We use the method based on the…

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…

The author examined whether game play improves students' comprehension, attendance, and exam performance. The author designed three games; 120 students in introductory microeconomics classes participated in these experiments. The evidence showed that game play enhances students' attendance, comprehension, and exam performance. It also showed that…

Health insurance policy is a current topic of concern for the United States. The classroom game discussed here provides students with a thorough understanding of some of the policy options under debate, in addition to demonstrating the classic problem of adverse selection. Students received probabilities of encountering a variety of medical…

Adam Smith's moral philosophy can be used to introduce economics students to the important idea of transactions costs. The author provides a brief background in this article to Smith's moral philosophy and connects it to the costs of transacting in a way that fits easily into the standard principles of microeconomics classroom. By doing…

Computer simulation of the Alonso household location model can enrich the intermediate microeconomics course. The model includes decisions on location, land space, and other goods and is a valuable complement to the usual textbook model of household consumption. It has three decision variables, one of which is a "bad," and one good's price is a…