Using Experimental Methods to Teach Market Economics in Former Planned Economies

Dale J. Menkhaus, Alla V. Yakunina, Chris T. Bastian and Victor E. Esipov

Review of Agricultural Economics, 1997, vol. 19, issue 1, 198-206

Abstract: In this paper, we present procedures and results of case experiences using experimental economics methods to teach selected market principles in Russia. Students can experience active learning by using experimental economics to generate demonstrations and application data. Classroom demonstrations highlighted in this case study include an individual consumer demand experiment conducted in St. Petersburg and Saratov, Russia, and a market experiment conducted in Saratov. Students generally appreciated the use of experiments, and the approach has considerable merit in teaching market and price theories in a new market economy. The Russian classroom also provided an excellent laboratory to study how cultural and other differences affect behavior.

Date: 1997
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