{"title":"Baking for economics and the community–An experiential learning project for the principles of microeconomics class","authors":"Guanlin Gao","doi":"10.1016/j.iree.2021.100219","DOIUrl":null,"url":null,"abstract":"<div><p><span><span><span>This paper introduces an experiential learning project for the principles of </span>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, </span>market efficiency<span>, 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 </span></span>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.</p></div>","PeriodicalId":1,"journal":{"name":"Accounts of Chemical Research","volume":null,"pages":null},"PeriodicalIF":16.4000,"publicationDate":"2021-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/j.iree.2021.100219","citationCount":"1","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Accounts of Chemical Research","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S1477388021000116","RegionNum":1,"RegionCategory":"化学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"CHEMISTRY, MULTIDISCIPLINARY","Score":null,"Total":0}
引用次数: 1
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.
期刊介绍:
Accounts of Chemical Research presents short, concise and critical articles offering easy-to-read overviews of basic research and applications in all areas of chemistry and biochemistry. These short reviews focus on research from the author’s own laboratory and are designed to teach the reader about a research project. In addition, Accounts of Chemical Research publishes commentaries that give an informed opinion on a current research problem. Special Issues online are devoted to a single topic of unusual activity and significance.
Accounts of Chemical Research replaces the traditional article abstract with an article "Conspectus." These entries synopsize the research affording the reader a closer look at the content and significance of an article. Through this provision of a more detailed description of the article contents, the Conspectus enhances the article's discoverability by search engines and the exposure for the research.