This course is designed to teach the basic principles of economics through the use of weekly experiments. In each experiment you will be an active participant attempting to make deals with other traders in the market. At the end of the experiment it is time to really put economics to the test---can economic theory really explain the complex interactions of the participants in your experiment? One nice feature of these experiments is that you can be both a participant and an observer, and you often will learn nearly as much about economic principles from your experience as a participant as you will from the analysis of the experiment as an observer. Topics covered include basic market behavior, auctions, rent control, pollution, network externalities, information economics, and international trade.
