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MyEducationPath.com :: OLI. Carnegie Mellon University : 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.
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