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Cataloged Resource Summary

 

Title

A Classroom Game for Developing Market Demand and Demand Elasticities: The Snicker Effect

Author

Cynthia D. Hill

Category

Consumer Economics

Type

Non-computerized experiment

Description

This simple experiment of market demand has students create their own individual demand curves based on principles of consumer choice and then has them combine to create a market demand curve. The experiment further introduces students to the various types of elasticity associated with the demand curve; price elasticity of demand, income elasticity, and cross-price elasticity. Students are asked to hypothetically "buy" from a "store" in the classroom where product price and income change throughout the different stages of the experiment. The students are grouped and develop market demand curves for various products from which elasticities are then calculated. Including a 5 minute introduction, and a 5-10 minute concluding discussion, this experiment fits into a 50 minute class period. The author has used it in her introductory microeconomics course, with class sizes ranging from 20 to 70.

URL

http://mcnet.marietta.edu/~delemeeg/expernom/Fall2001/hill.html

Home URL

http://mcnet.marietta.edu/~delemeeg/expernom.html
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