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Teaching economics with a bag of chocolate: A classroom experiment for elementary school students

Author

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  • Rupp, Nicholas G.

Abstract

This paper describes a classroom experiment suitable for elementary school students in which participants are actively engaged in making trading decisions. Students are provided an endowment of gum and are asked to make trading decisions to acquire chocolate. As the opportunity cost of acquiring a piece of chocolate rises, fewer students are willing to make trades. This interactive classroom exercise illustrates three fundamental economic concepts: the law of demand, opportunity costs, and gains from trade. Assessment test results reveal that two days after this classroom exercise, fifth grade students register significant improvements in their understanding of three fundamental economic concepts.

Suggested Citation

  • Rupp, Nicholas G., 2014. "Teaching economics with a bag of chocolate: A classroom experiment for elementary school students," International Review of Economics Education, Elsevier, vol. 16(PB), pages 122-128.
    • Handle: RePEc:eee:ireced:v:16:y:2014:i:pb:p:122-128
    DOI: 10.1016/j.iree.2014.04.001
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    Cited by:

    1. Batty, Michael & Collins, J. Michael & O’Rourke, Collin & Odders-White, Elizabeth, 2020. "Experiential financial education: A field study of my classroom economy in elementary schools," Economics of Education Review, Elsevier, vol. 78(C).

    More about this item

    Keywords

    Classroom experiment; Active learning; Law of demand; Economic concepts;
    All these keywords.

    JEL classification:

    • A21 - General Economics and Teaching - - Economic Education and Teaching of Economics - - - Pre-college
    • A20 - General Economics and Teaching - - Economic Education and Teaching of Economics - - - General

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