Looking to spice up the way you quiz your students? Try using Kahoot! to teach economics.
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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The question is designed to test your students intuition for which goods have elastic or inelastic demand. By utilizing the three primary determinants of demand (number of substitutes, the share of the budget spent on the good, and the time frame for making a decision) you can explain why three answers are wrong and one is correct.
Course Used: Principles of Micro
Quiz Nature: Discussion starter
Question Length: 1
Estimated Time to Play: Anywhere from 2 to 5 minutes depending on how much follow-up is needed.
To request this Kahoot, please Contact Us.
Economics is a Kahoot! 