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Cataloged Resource Summary

 

Title

Experimental Derivation of a Demand Curve

Author

John Brock

Category

Consumer Economics

Type

Non-computerized experiment

Description

Most of the concepts presented in Principles of Microeconomics are particularly abstract to the average introductory student. This "Coke game" is designed to bring life to a few of these concepts so that students will better understand and retain important principles. Further, the active nature of the game provides a very welcome variation to the usual lecture format. The following concepts are introduced through the use of this experiment: law of demand and the "ceteris paribus" assumption, consumer surplus, competitive equilibrium and pareto optimality, and monopoly power and profits. Since students are using their own money to purchase Cokes, the message being sent is particularly powerful

URL

http://mcnet.marietta.edu/~delemeeg/expernom/f92.html#brock

Home URL

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