Value of the Activity Set for an IBDP Economics Classroom
This collection of interactive activities enhances students' understanding of key economic concepts by engaging them in simulations, experiments, and debates. Each activity focuses on applying economic theories to real-world scenarios, promoting critical thinking, teamwork, and decision-making. Through hands-on learning experiences, students gain a deeper comprehension of complex concepts such as elasticity, market structures, and government intervention in markets.

List of Activities with Summation:

1. Elasticity Scavenger Hunt
   Students identify real-world products and categorize them as elastic or inelastic based on price elasticity characteristics.
2. Game Theory and the Prisoner’s Dilemma
   Students simulate the Prisoner’s Dilemma to understand strategic decision-making in competitive scenarios.
3. Market Structure Simulation
   Students simulate different market structures such as monopoly and perfect competition to explore their characteristics and effects on business strategies.
4. Monopoly Board Game Analysis
   Students play Monopoly to explore the economic concepts of market power, pricing strategies, and monopolistic behavior.
5. Price Elasticity of Demand Experiment
   Students simulate price changes and measure the responsiveness of quantity demanded to calculate price elasticity.
6. Public Goods Debate
   Students engage in a structured debate on whether goods like healthcare and education should be considered public goods provided by the government.
7. Taxes and Subsidies Simulation
   Students observe the effects of taxes and subsidies on market prices, supply, and demand through a hands-on simulation.
8. The Price Ceiling Game
   Students simulate the impact of price ceilings on supply and demand, exploring the consequences such as shortages and black markets.
9. Consumer Choice Experiment
   Students make purchasing decisions under budget constraints to understand how consumers maximize utility.
10. Consumer Surplus and Producer Surplus Graphing
    Students graph supply and demand curves and calculate consumer and producer surplus to understand market efficiency.