Interactive Tools for Principles of Microeconomics

Tools

What are the interactive tools?

Customized active learning tables, graphs, and calculation simulations where students can work to demonstrate their mastery of the concepts and component skills in microeconomics.

Practice versions help them develop mastery, in preparation for the quiz versions which serve as summative assessments.

Features

  • Each tool can be used independently or scaffolded for a better learning experience.
  • Practice tools offer immediate feedback.
  • Highly randomized so that each student gets a different (but comparable) experience on each iteration.
  • 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.

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