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ERIC Number: EJ1115249
Record Type: Journal
Publication Date: 2016
Pages: 14
Abstractor: As Provided
ISSN: ISSN-0022-0485
A Classroom Market for Extra Credit: A Semester-Long Experiment
Staveley-O'Carroll, James
Journal of Economic Education, v47 n4 p324-337 2016
This article describes an innovative pedagogical technique, applicable to most economics courses, that offers students a deeper understanding of market equilibrium, inflation, real and nominal interest rates, intertemporal choice, and financial markets. Students earn extra credit, pooled together for the entire class, by correctly answering in-class clicker questions. Correctly answering questions also earns students classroom currency, which they can use to "purchase" extra credit from the pool. The creation and purchase of extra credit establishes an endogenous market system in which the price of extra credit clears the market. The experiment can be augmented with (a) a bank that allows students to borrow classroom currency, (b) bonds to enable direct transfers between students, and (c) stocks that produce randomly generated payouts.
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Publication Type: Journal Articles; Reports - Research
Education Level: N/A
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A
Grant or Contract Numbers: N/A