Do Business Students Benefit From Playing Economics

Classroom Games?

Economics Network Mini Project

Mike Walsh

Coventry University

Ref: DEE conf 09 TCs and games business v4

(1) Introduction

• Students state a preference for active learning– Classroom games and experiments help

• Promote active learning• Introduce / embed economic concepts• Address differing learning styles

• Business students find economics relatively difficult

• Project assessed if games improved the learning experience, and if students acquired selected threshold concepts

• Consider year 1 Business students on a compulsory economics module– No economics beyond year1– Promote understanding and working knowledge

(Salami 2005)

• YOU WILL PLAY THE PRODUCTION GAME

(2) Method

• Two workshop groups & 1 control group• Lectures

– Introduce a concept– Run games – Give limited feedback in lecture– Follow up exercises with two research groups

• Evaluation– Short answer questions in summative

assessment (EXAM)– Student questionnaires to evaluate student

satisfaction with the learning process

(3) Games

• Game: Production game– Simplified ‘Tennis Ball Game’ – Threshold concepts considered: Marginality

and economic modelling. – Resources developed:

• Worksheet focusing on cost rather than production theory, particularly understanding of AC & MC

– Problematic in the past

• Linking results to perfect competition & exit of BA from regional air routes

• http://www.economicsnetwork

Number of workers (L)

Output(Q)(bricks)

Total Fixed Cost

Total Variable Cost

Total Cost Marginal Cost(TC/Q)

Average Variable Cost

AverageFixedCost

Average Cost

0

1

 

2

 

3

4

 

5

 

6

7

• Game: Deal or no deal. – Threshold concept considered: Opportunity cost

Deal or No deal

• Game: International Trade Game – Threshold concepts considered: Elasticity,

opportunity cost, partial equilibrium http://www.economicsnetwork

• Game: Exchange Rates– Threshold concepts considered: Partial

equilibrium and economic modelling

(4) Results

(a) Economics Network Questionnaire April-May 2008

• Student satisfaction with games high

I found the economics classroom games useful

4 or 5 on the Likert scale - % strongly / very strongly agreeing with the statementN = 51

The classroom games helped link economics to business issues

Which game was most useful (score of 4 or 5)?

• Production Game 80%

• International Trade Game 74%

• Exchange Rate Game 65%

• Deal or No Deal 44%

(b) Coventry University Module Questionnaire May 2008)

Selected student answers to the question: What were three good things about the module?

• ‘Games explain the real world’

• ‘The use of games and case studies to emphasis points’

• ‘Action learning is also included within lectures (games, videos etc)’

• ‘Students are able to get more involved in lectures. The lectures keep my attention’

(c) Summative Assessment

• May 2008 Exam – Students had to identify and explain threshold

concepts that were relevant to business situations

Threshold concept Study group marks (n=54)

Control group marks (n=24)

Opportunity cost & marginal question

24% 26%

Economic modelling question

58% 38%

Overall exam mark 48% 45%

(5) Conclusions

• Games made economics more interesting– Need follow up activities

• No clear evidence from exam questions regarding acquisition of threshold concepts

• Games take up valuable time, but benefits can outweigh the costs

Bibliography• Emerson T and Taylor B, ‘Comparing Student Achievement Across

Experimental and Lecture-Orientated Sections of a Principles of Microeconomics Course’, Sothern Economic Journal, 70 (3)

• Hedges M, (2004), ‘Case study: Tennis Balls in Economics’, Economics Network

• Holt C, (1999), ‘ Teaching Economics With Classroom Experiments’, Southern Economic Journal, 65 (3)

• Meyer J and Land R, (2002), ‘Threshold Concepts and Troublesome Knowledge (1): linkages to ways of thinking and practicing within the disciplines’, ISL 2002 Conceptual Paper

• Salami M, (2005) ‘Teaching Economic Literacy: Why, What and How', International Review of Economics Education, vol 4, issue 2