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Teaching Economics with Games: Results from a Classroom Experiment

In this paper, results from a classroom experiment are analyzed using both MLE and Bayesian Methods. A pop-up review quiz was given to students to test their understanding of microeconomic concepts. After the test, a related economics taboo game where performed in class. Soon after the games students were given an option to retake the quiz. The visual comparison of pregame and postgame results shows a slight improvement in student performance. However both binary logistics MLE regressions and Bayesian Posterior Statistics show that this slight improvement is statistically insignificant. In addition, students with previous calculus experience and higher class performance do better than others in both pregame and postgame quizzes whereas age, gender and department have no significant effect on student scores.