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Principles of Economics

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Principles of Economics



This course teaches the core principles of economics using a
collection of experiments and workbooks. In the experiments, students
become traders in a market and attempt to make profitable deals with
one another. At the conclusion of the experiment, the data are used to
form a customized, online workbook. Each workbook guides the student
through the analysis of the experiment’s outcome, while
simultaneously presenting the key ideas and core principles in
economics needed to gain a deeper understanding of both the experiment
and economic life.

In these experiments the student is both a participant and an
observer. As a participant, the student experiences first hand the
issues that all economic agents must confront; as an observer, the
student sees how modern economic theory can explain the complex
interactions that occur in both the experiments, and the economic
world at large. Students often report that they learn nearly as much
about economic principles from their experience as a participant as
they do from their analysis of the experiment as an observer.

Students learning on their own or in small classes (generally fewer
than 10 students) can still use the workbooks, but will be given
synthetic data. Small numbers of students participating in experiments
does not yield enough data for the workbooks.

Categories: Business

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