IDEAS home Printed from https://ideas.repec.org/a/eee/ireced/v37y2021ics1477388021000116.html
   My bibliography  Save this article

Baking for economics and the community–An experiential learning project for the principles of microeconomics class

Author

Listed:
  • Gao, Guanlin

Abstract

This paper introduces an experiential learning project for the principles of microeconomics class. In this project, students create a baking business and act as entrepreneurs, from conducting market research, engaging in production and sales, to evaluating their business’s financial performance. This hands-on project not only covers a wide range of learning objectives, including demand and supply, elasticity, market efficiency, production costs, and market structures, but also offers students an opportunity to improve their communication skills, problem-solving skills, time management skills, and teamwork skills. This paper introduces the project and provides supplemental materials for instructors to evaluate student performance in this project. This paper also discusses several modifications to shorten or expand this project to meet different learning objectives for various class sizes and class formats.

Suggested Citation

  • Gao, Guanlin, 2021. "Baking for economics and the community–An experiential learning project for the principles of microeconomics class," International Review of Economics Education, Elsevier, vol. 37(C).
    • Handle: RePEc:eee:ireced:v:37:y:2021:i:c:s1477388021000116
    DOI: 10.1016/j.iree.2021.100219
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S1477388021000116
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.iree.2021.100219?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Alexander Serenko & Brian Detlor & Heidi Julien & Lorne D. Booker, 2012. "A model of student learning outcomes of information literacy instruction in a business school," Journal of the American Society for Information Science and Technology, Association for Information Science & Technology, vol. 63(4), pages 671-686, April.
    2. Kim Hawtrey, 2007. "Using Experiential Learning Techniques," The Journal of Economic Education, Taylor & Francis Journals, vol. 38(2), pages 143-152, April.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Karla Borja & Suzanne Dieringer, 2023. "Telling My Story: Applying Storytelling to Complex Economic Data," Eastern Economic Journal, Palgrave Macmillan;Eastern Economic Association, vol. 49(3), pages 328-348, June.
    2. Bosley, Stacie, 2016. "Student-crafted experiments “from the ground up”," International Review of Economics Education, Elsevier, vol. 22(C), pages 1-7.
    3. Swinton, Scott M., 2021. "Learning about Consumer Demand from Student Surveys," Applied Economics Teaching Resources (AETR), Agricultural and Applied Economics Association, vol. 3(3), September.
    4. Paul Dalziel, 2011. "Schumpeter's 'Vision' and the Teaching of Principles of Economics to Resource Students," International Review of Economic Education, Economics Network, University of Bristol, vol. 10(2), pages 63-74.
    5. Berning, Joshua P., 2014. "Using self-reported data collection and analysis to facilitate student learning: A case study," 2014 Annual Meeting, February 1-4, 2014, Dallas, Texas 162482, Southern Agricultural Economics Association.
    6. Aravind Reghunathan & Sridhar G, 2023. "Enjoy Your Favourite Book as a Movie: Using an Experiential Learning Exercise to Improve Student Understanding of Brand Extensions and Marketing Plan Preparation," IIM Kozhikode Society & Management Review, , vol. 12(1), pages 112-126, January.
    7. Josephson, Anna & DeBoer, Lawrence & Nelson, David & Zissimopoulos, Angelika, 2016. "Reshaped for Higher Order Learning: Student Outcomes in the Redesign of an Undergraduate Macroeconomics Course," 2016 Annual Meeting, July 31-August 2, Boston, Massachusetts 235765, Agricultural and Applied Economics Association.
    8. Islam, Shahidul & Manaloor, Varghese, 2011. "Teaching introductory economics to students of different majors: Challenges and opportunities," MPRA Paper 107277, University Library of Munich, Germany, revised 2011.
    9. Lorne D. Booker & Brian Detlor & Alexander Serenko, 2012. "Factors affecting the adoption of online library resources by business students," Journal of the Association for Information Science & Technology, Association for Information Science & Technology, vol. 63(12), pages 2503-2520, December.
    10. Ramsey, A. Ford & Isengildina-Massa, Olga, 2021. "Evaluation of Learning Outcomes from Participation in a Student-Managed Commodity Investment Fund," Applied Economics Teaching Resources (AETR), Agricultural and Applied Economics Association, vol. 2(6), January.
    11. Robyn Cameron & Pat Clark & Laura De Zwaan & Diane English & Dawne Lamminmaki & Conor O'Leary & Kirsty Rae & John Sands, 2015. "The Importance of Understanding Student Learning Styles in Accounting Degree Programs," Australian Accounting Review, CPA Australia, vol. 25(3), pages 218-231, September.
    12. Brian Detlor & Heidi Julien & Tara La Rose & Alexander Serenko, 2022. "Community‐led digital literacy training: Toward a conceptual framework," Journal of the Association for Information Science & Technology, Association for Information Science & Technology, vol. 73(10), pages 1387-1400, October.
    13. Poór József & Kollár Csaba & Szira Zoltán & Taras Vas & Varga Erika, 2018. "Central and Eastern European Experience of the X-Culture Project in Teaching International Management and Cross-Cultural Communication," Journal of Intercultural Management, Sciendo, vol. 10(1), pages 5-41, March.
    14. Conor O'Leary, 2012. "Semester-specific ethical instruction for auditing students," Managerial Auditing Journal, Emerald Group Publishing, vol. 27(6), pages 598-619, June.
    15. Rajasulochana, Subramania Raju & Senthil Ganesh, S., 2019. "Is assessing learning outcomes a trade-off in experiential learning? Integrating field visit with managerial economics course," International Review of Economics Education, Elsevier, vol. 32(C), pages 1-1.
    16. repec:eee:ireced:v:31:y:2019:i:c:p:- is not listed on IDEAS
    17. Conor O’Leary & Jenny Stewart, 2013. "The Interaction of Learning Styles and Teaching Methodologies in Accounting Ethical Instruction," Journal of Business Ethics, Springer, vol. 113(2), pages 225-241, March.
    18. Sherry Jensen, 2016. "Motivating the study of international trade: A classroom activity," The Journal of Economic Education, Taylor & Francis Journals, vol. 47(4), pages 311-316, October.

    More about this item

    Keywords

    Experiential learning; Group project; Economics; Entrepreneurship;
    All these keywords.

    JEL classification:

    • A22 - General Economics and Teaching - - Economic Education and Teaching of Economics - - - Undergraduate
    • D00 - Microeconomics - - General - - - General
    • M20 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:ireced:v:37:y:2021:i:c:s1477388021000116. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.journals.elsevier.com/international-review-of-economics-education .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.