Millennial students, shaped by the rapid change in technology and connectivity, pose a challenge in devising new teaching and learning pedagogies. The team-based learning (TBL) approach has been used in several disciplines and is indicated as an effective way to use active learning techniques to help students improve their academic performance. The authors applied the TBL pedagogy to deliver the second term of a final-year core module of an economics undergraduate degree. The TBL intervention aimed to enrich students' experience in learning, contextualizing, and applying economics to different issues and policies. The empirical analysis suggests that the authors achieved their aims. Their findings indicate that TBL improved students' academic performance, reduced several achievement gaps, and enriched the students' learning experience, making it more enjoyable.