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Experiments with Economic Principles Paperback – Sep 1996

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Paperback, Sep 1996
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From the Publisher

A new experiment on 'Network economics' that deals with questions such as 'Why did Microsoft get so big?' 'Is this a good thing?' Students know about Microsoft and may be following the ongoing United States vs. Microsoft case.
More real-world explanations in the discussion sections of each chapter help the student better understand the economic concepts
Some experiments are shortened. Busy work is de-emphasized in favor of more attention to learning concepts
Answers to the warm-up exercises are now included at the end of the text. These provide instant reinforcement as the student becomes comfortable with the experiment's procedures
A public goods experiment will be added thereby expanding the range of the experiments.
More modular packaging options are offered. One experiment is already on the Web. Individual chapters may be custom published and wrapped with any Irwin/McGraw-Hill principles of economics textbook. Instructions for modular packaging will be on the Web.
Experiments can be conducted in an ordinary classroom without special equipment. Topics covered are those typically taught in a Microeconomics course: Supply, demand, market equilibria, taxes, price floors and ceilings, externalities, monopolies, and comparative advantage. Students are engaged in active learning and theory is brought to life via the laboratory experiment.
While the text is meant to supplement any microeconomics principles text, it can and has been used by itself. "Discussion Sections" give an abbreviated treatment of economic theory relevant to completing the experiment.
Each experiment contains instructions and a warm-up exercise that helps students think about the decisions they will be making in the experiment. Thus, the experiment is put into a context before it is performed to highlight its significance and to enhance student understanding.
"Lab Reports" for each experiment ask students to analyze data from the experiment and think about economic implications. On completing their lab reports, the students can organize their findings and report their findings at the next class meeting. In discussion groups, the students look for a theoretical explanation of what happened and explore other applications in the real world.
At the end of the chapter, there is a homework assignment that will help students solidify the ideas that have been explored.
The Instructor's Manual is essential for instructors who are new to using experiments to teach economics. --This text refers to an out of print or unavailable edition of this title.

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Most Helpful Customer Reviews on (beta) 3 reviews
3 of 3 people found the following review helpful
Engaging approach 28 July 2006
By Amazon Customer - Published on
Format: Paperback
I took a course that used this book (taught by one of the authors) to fulfill an economics core requirement. Since then, I have studied economics on my own and know that I have retained a lot of the information that I learned in that first introductory class. In contrast, I've forgotten much of what I learned in standard lecture-style courses. I disagree with the previous reviewer in that I think this book is great for a beginner. You may not learn all of the mainstream technical terms and how to do economic busywork, but it does a really good job of teaching key concepts: supply and demand, market vs. regulated prices, etc... Conceptual understanding is extremely important in any field, and encourages the student to think creatively. Most importantly, this book encourages learning and instills an interest in economics.
0 of 2 people found the following review helpful
DO NOT BUY IT 8 April 2013
By babette - Published on
Format: Paperback Verified Purchase
8 of 20 people found the following review helpful
Experimental Economics ... not as cool as it sounds. 23 Dec. 2000
By A Customer - Published on
Format: Paperback
I had the fortune of being in an introductory economics class where the experimental approach along with this book is used. I already had lots of microeconomics background and scored a 5 on my AP micro and macro eco exam. I believe that experimental approach to economics, although can be interesting at times, is not suitable for students with little or no economics background. It is essential for students to have a solid grasp of important economic concepts such as marginal cost/revenue, opportunity cost, and the experimental approach lacks in that respect. I tried this course and this book, because I wanted a different angle on something I already knew, and I didn't get much out of it. If you're new to economics, and perhaps want to continue into more economics courses later on, this book/course is not the way. The chapters are no more than explanations of the experiments done in class. Very little reference material exists, and everything is over simplified. By the end of this book, students will not be able to draw the MC/MR/TR/TC curves for perfect competitions/monopoly/oligopoly/monopolistic competiton. I got an A in the course, not because the book was so helpful to me, but because I already knew the stuff before I even registered for the class.
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