In this study, a gamification process was implemented in an undergraduate course of Economics that consisted 397 students. The primary purpose of the research was to empirically validate the effects of gamification in terms of the variables of engagement, motivation, entertainment, perceived relevance of the course, knowledge increase and participation. To ascertain these, a questionnaire was administered to the participants. The results indicated that gamification provided significant positive effect on all variables listed above except motivation. Additional objectives of the article were to link the effects to Marczewski's player types, namely, Philanthropists, Socialisers, Free spirits, Achievers, Players, and Disruptors, and to measure whether there are differences between the types in terms of the variables indicated above. Gamification resulted in positive effects on all player types except the player type of Disruptors.