Interactive Tools for Principles of Microeconomics


What are the interactive tools?

These are new assessment tools where students can work to demonstrate their mastery of the concepts and component skills in the course. The practice versions help them develop mastery, in preparation for the quiz versions which serve as summative assessments.

The tools are highly randomized so that each student gets a different (but comparable) experience on each iteration. It discourages cheating because each student gets a different variation on each attempt - it's not possible to simply take a screenshot and share the answers with classmates.

Why did we do this?

The Andrew Young School of Policy Studies (AYS) at Georgia State University (GSU) is committed to lowering the costs of education for students. The University System of Georgia (USG) is also committed to this goal, and provides grants through Affordable Learning Georgia to encourage "USG faculty, libraries, and institutions to transform their use of textbooks and other learning materials into lower cost options". The GSU Department of Economics Undergraduate Program had prioritized for a while the conversion of Principles of Economics courses to Open Educational Resources (OER) courses because of the high enrollments and potential cost-savings to students, but the technical barriers of creating the interactive learning tools and integrating them into GSU's learning management system were significant.

With the advent of the COVID-19 Pandemic, in-person learning abruptly came to a halt and schools transitioned to a remote learning paradigm. The U.S. Department of Education provided the Higher Education Emergency Relief Fund (HEERF) in response to the pandemic. Given the increased need for remote learning, a team was formed to seek HEERF funds to develop an OER course for Principles of Microeconomics. We received both HEERF and USG ALG funds in 2021 and created our OER Principles of Microeconomics course.

The team

This project is a collaboration of units within Georgia State University's Andrew Young School of Policy Studies: Department of Economics, Experimental Economics Center (ExCEN), and Instructional Design.

Department of Economics

Experimental Economics Center

Dean's Office

We would be happy to hear from you

Please send questions or comments to Shelby Frost at sfrost@gsu.edu

Thinking Like an Economist

Calculating Opportunity Costs Practice Quiz
Determining Absolute and Comparative Advantage Practice Quiz
Calculating Marginal and Total Benefits in a Table Practice Quiz
Calculating Marginal and Total Costs in a Table Practice Quiz
Identifying Optimal Quantity from a Table Practice Quiz

How Do Markets Work? (Supply, Demand & Equilibrium)

Identifying Points on a Demand Table Practice Quiz
Identifying Points on a Demand Graph Practice Quiz
Demand Shifts vs. Movements Practice Quiz
Identifying Points on a Supply Table Practice Quiz
Identifying Points on a Supply Graph Practice Quiz
Supply Shifts vs. Movements Practice Quiz
Identifying Market Equilibrium on a Table Practice Quiz
Identifying Market Equilibrium on a Graph Practice Quiz
Identifying Market Disequilibrium on a Table Practice Quiz
Identifying Market Disequilibrium on a Graph Practice Quiz
New Market Equilibrium from a Table Practice Quiz
New Market Equilibrium from a Graph Practice Quiz

Consumers (Demand & Elasticity)

(Revisit) - Identifying Points on a Demand Table Practice Quiz
(Revisit) - Identifying Points on a Demand Graph Practice Quiz
(Revisit) - Show Demand versus Quantity Demanded Practice Quiz
Determine Market Demand Practice Quiz
Calculating Consumer Surplus from a Table Practice Quiz
Price Changes - Calculating Changes in Consumer Surplus from a Table Practice Quiz
Interacting with Price Elasticity of Demand - calculations and degrees of elasticity Practice Quiz
Examining Price Elasticity Demand and Total Revenue or Total Expenditures Practice Quiz
Interacting with Other Demand Elasticities Practice Quiz

Producers (Perfectly Competitive Supply)

(Revisit) - Identifying Points on a Supply Table Practice Quiz
(Revisit) - Identifying Points on a Supply Graph Practice Quiz
(Revisit) - Show Supply versus Quantity Supplied Practice Quiz
Calculating Producer Surplus from a Table Practice Quiz
Price Changes - Calculating Changes in Producer Surplus from a Table Practice Quiz
Calculating Costs from a Table [NOTE: Must round answers to one decimal place.] Practice Quiz
Calculating Revenues and Costs and Profits from a Table (Perfect Competition) [NOTE: Must round answers to one decimal place.] Practice Quiz
Identifying Profit-Maximizing Quantity of Output from a Table (Perfect Competition) Practice Quiz
Interacting with Price Elasticity of Supply – calculations and degrees of elasticity Practice Quiz

Market Efficiency & Types of Market Failure

Calculating Total Economic Surplus from a Table Practice Quiz
Calculating Accounting and Economic Profit Practice Quiz

Imperfectly Competitive Markets Part 1: Monopoly

Calculating Revenues and Costs and Profits from a Table (Monopoly) Practice Quiz
Identifying Profit-Maximizing Quantity of Output from a Table (Monopoly) Practice Quiz

Imperfectly Competitive Markets Part 2: Monopolistic Competition, Oligopoly & Strategic Behavior

Identifying Profit-Maximizing Quantity of Output from a Table (Monopolistic Competition) Practice Quiz

Market Imperfections (Externalities & Property Rights)

Comparing Private and Socially Optimal Outcomes with Externalities in a Table Practice Quiz
Calculating Costs or Benefits with Externalities in a Table Practice Quiz
Comparing Private and Socially Optimal Outcomes with Externalities in a Graph Practice Quiz
Identifying Positive and Negative Externalities from a Graph Practice Quiz

Why do Governments Intervene in the Market? (Taxes, Subsidies, Price Controls & Quantity Controls)

Analyzing an Excise Tax on Producers on a Graph Practice Quiz
Analyzing Price Controls on a Graph Practice Quiz
Analyzing Price Controls on a Table Practice Quiz
Analyzing Quotas on a Graph Practice Quiz

Gains from Voluntary Trade

(Revisit) - Calculating Opportunity Costs Practice Quiz
(Revisit) - Determining Absolute and Comparative Advantage Practice Quiz
Determining Gains from Trade Practice Quiz
Calculating Mutually Beneficial Terms of Trade Practice Quiz