Looking to spice up the way you quiz your students? Try using Kahoot! to teach economics.
This Kahoot! looks at material often covered in the introduction of economics textbooks, but is intended for a younger audience. Topics include types of resources and common definitions like supply and demand. There is also a brief discussion of currency and money.
This Kahoot! is publicly available thanks to user apitzl.
Course Used: Elementary School
Quiz Nature: Concept Review
Question Length: 25
Estimated Time to Play: 45 minutes with explanation.
This Kahoot! focuses on the graphs associated with the Macroeconomics Advanced Placement exam. The quiz covers production possibilities curves, aggregate supply and demand curves, fiscal & monetary policy, money supply, market for loanable funds, Phillips Curve, and foreign exchange.
This Kahoot! was created by Rebecca Sealock and can be accessed publicly!
Course Used: Principles of Macroeconomics
Quiz Nature: Graphing Review
Question Length: 45
Estimated Time to Play: 1 hour
This is an eight question quiz designed to help students understand what goods and services comprise GDP.
This Kahoot! is publicly available.
Course Used: Principles of Macro
Quiz Nature: Concept Review
Question Length: 8
Estimated Time to Play: 10 minutes
This Kahoot! is designed as a formative assessment on the general topic of unemployment. Students must correctly identify whether the person described in employed, unemployed or not in the labor force.
This Kahoot! is publicly available!
Course Used: Principles of Macro, Labor
Quiz Nature: Concept Review
Question Length: 7
Estimated Time to Play: 10 minutes
This Kahoot! provides covers the banking system and the role of money in an economy. A large portion of the questions focus on the characteristics of money, including unit of account, store of value, and medium of exchange. For the banking portion, it divides the role of banks in a financial market, but also for banking customers.
Thanks to Mr. Martinez for the creation of this Kahoot! You can access this Kahoot! publicly.
Course Used: Principles of Macro, Money & Banking
Quiz Nature: Concept review
Question Length: 25
Estimated Time to Play: 30-45 minutes
This Kahoot! provides an introduction to economics and can be used for both a principles of microeconomics, principles of macroeconomics, or a survey of economics course. The main questions in this Kahoot! revolve around the concepts of scarcity, opportunity cost, and factors of production.
Thanks to Mr. Martinez for the creation of this Kahoot! You can access this Kahoot! publicly.
Course Used: Principles of Micro, Principles of Macro, Survey of Economics
Quiz Nature: Concept review
Question Length: 25
Estimated Time to Play: 30-45 minutes
The Kahoot provides an interesting example of the price elasticity of demand for water. Students are given enough information to calculate the price elasticity using the midpoint method. Since the coefficient is negative and between 0 and -1, the price elasticity of demand in inelastic – that is the correct answer. However, many students object, stating that they would never pay $5 for bottled water (their demand in elastic), to which you should respond, “It’s the Hilton, as long as bottled water drinkers value the convenience more that then extra price they pay, their demand is inelastic. Don’t confuse what you would do with what others decide to do.”
Course Used: Principles of Micro
Quiz Nature: Discussion starter
Question Length: 1
Estimated Time to Play: 3-5 minutes with explanation.
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The Kahoot provides a 2 x 2 payoff matrix so that students can identify the dominant strategy. Students who are careless or simply don’t understand what “marginal” means will typically identify the point where total product begins to fall but marginal product begins falling much sooner.
Course Used: Principles of Micro
Quiz Nature: Concept Review
Question Length: 1
Estimated Time to Play: 2-3 minutes with explanation.
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The Kahoot replicates the Allais Paradox. Maurice Allais received the Nobel Prize in Economics for demonstrating that income was a key determinant of risk preference. Before Allais economists assumed that people were either risk averse, risk neutral of risk takers and that their preferences did not change. It is our experience that 20-30 percent of your students will choose gambles 1 and B (just like Allais’ subject did over 30 years ago).
Course Used: Principles of Micro
Quiz Nature: Discussion Starter
Question Length: 1
Estimated Time to Play: 5 minutes.
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Misperceptions of probabilities is one the human limitations that behavioral economists examine. One of the most famous examples is the Monty Hall problem, named after Monty Hall the original host of Let’s Make a Deal. On the show Monty Hall would show the final contestant three doors and ask them to choose one. Then he would reveal a “goat” behind one of the doors the contestant did not choose. At that point, he’d then ask the contestant if they would like to switch doors. The contestant should since this gives them a 2/3rd chance of winning the grand prize but most don’t switch because they don’t want to regret the switch if it turns out that their first choice of doors is the winner. Regret is an important behavioral concept that causes people to make choices that fail to maximize the expected value of probability distributions. There is also a wonderful scene in 21 that explains the problem superbly:
Course Used: Principles of Micro
Quiz Nature: Discussion Starter
Question Length: 2
Estimated Time to Play: 5-8 with explanation of the mathematics.
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Economics is a Kahoot! 