A Classroom Experiment on the Specific Factors Model

Yu-Hsuan Lin

MPRA Paper from University Library of Munich, Germany

Abstract: This paper proposes a classroom-experiment approach to interrogate the specific factors model. Its design differs from earlier work in that students can observe both the factor prices in two different sectors, and the society’s welfare. Students participate as factor owners and can produce both of two kinds of goods by allocating their resources to maximise their teams’ welfare. Their resource endowment, relative prices, and trade rules vary round by round. Based on the outcomes, students discuss the impacts of relatively abundant resources, relative prices and trade rules on team welfare, individual income and the gains from trade. This classroom experiment could foster better learner understanding of the specific factors model, both individually and collectively.

Keywords: Specific factors model; experiment design; economics education; international trade (search for similar items in EconPapers)
JEL-codes: A22 C90 F16 (search for similar items in EconPapers)
Date: 2018-09
New Economics Papers: this item is included in nep-exp and nep-int
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Related works:
Journal Article: A classroom experiment on the specific factors model (2021)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:89013

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