Many topics in economics involve the possible effects of economic policy enacted by government, such as whether increasing the minimum wage will raise wages for low-income workers or result in higher unemployment among such people. A survey of economics teaching methods on the Endogenous Preferences website suggests teachers assign small groups of students to examine each side of an issue, presenting their findings and arguments in a debate format. Each student group will have a limited amount of time to present its side, after which the instructor can open the floor to comments and questions by other students. This method not only engages students with economics content but helps them improve their oral communication skills.
Written assignments improve student understanding of economics course material and develop critical thinking skills. The Endogenous Preferences website cites research that suggests assigning students to choose some economic puzzle and apply economic theory to explain it. The article cites such economic puzzles as why child safety seats are required in cars but not on airplanes, or why brides buy expensive wedding dresses they will wear only once while grooms often rent cheap tuxedos they could potentially wear more than once.
Broadening teaching methods in economics does not mean abandoning the traditional lecture approach. Instructors can, however, enhance lecture material by incorporating more student-centered activities that help keep students’ attention. Instructors can require students to review certain material that is relevant to future lectures. In addition, teachers can assign short quizzes or writing assignments based on lecture material or brief readings that supplement the assigned textbook.
Simulations and games can also stimulate student interest in economics course material. Examples of such simulations include a budgeting game in which each student has a hypothetical amount of money to use for furnishing an apartment or meeting monthly expenses. This simulation applies mathematics skills and illustrates the economic principle of using limited resources—in this case, money—and setting priorities to meet needs and wants. The University of North Carolina at Greensboro took economics games a step further, creating a video game that combines science fiction themes and economics principles. The game requires students to direct the actions of aliens from a world of unlimited resources whose spaceship crashes on earth. Players’ actions help the aliens cope with life on earth, where resources are limited.