Do Business Students Benefit From Playing Economics Classroom Games?

1. 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

2. (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

3. 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

4. (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

5. Evaluation • Short answer questions in summative assessment (EXAM) • Student questionnaires to evaluate student satisfaction with the learning process

6. (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

8. 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

9. (4) Results

10. (a) Economics Network Questionnaire April-May 2008 • Student satisfaction with games high

11. I found the economics classroom games useful 4 or 5 on the Likert scale - % strongly / very strongly agreeing with the statement N = 51

12. The classroom games helped link economics to business issues

13. 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%

14. (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’

15. (c) Summative Assessment • May 2008 Exam • Students had to identify and explain threshold concepts that were relevant to business situations

17. (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

18. 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