Teaching Economics
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The benefits of teaching economics by way of classroom exercises that model market behavior have been touted for years. The purpose of such exercises is to have students engage in market-actor role-playing and actually emulate the activities of real-world economic actors in a scenario designed to demonstrate economic principles, or more exactly to enable students to arrive inductively at appreciation of economic principles by participating in their generation. In that connection, it has been observed that students who participate in market trading scenarios as buyers and sellers "come away impressed with the strong pressures to trade at a uniform price. This reaction is then mixed with surprise when they later discover that the observed price standard is the competitive price determined by the intersection of supply and demand functions constructed from information that was not available to any single trader" (Holt 603).However, not all economics exercises have the same objective. Nor are all are suited to the specific task of developing leadership, reasoning, problem-solving, and teamwork sk
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Approximate Word count = 741
Approximate Pages = 3 (250 words per page)
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