Working Paper No. 07-07
An Experiment to Summarize the Principles of Microeconomics
Charles A. M. de Bartolomé
I present a classroom experiment designed to help students
learn (1) decision-making using marginal analysis; (2) the
prediction of the price; (3) the decentralized determination of a price by the market; (4) specialization; (5) the gains from trade; and (6) the ability of a competitive market to create a Paretoefficient outcome. The innovation of the experiment is its comprehensiveness.
JEL classification: A22, C92, D41
Keywords: Market, Experiment