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Information about Economics Works
Short description
As part of the project, a concept for an economic working group (AG) was developed. Economic games and experiments form the core of the working group. Similar to science lessons, the pupils can use the experiments to gain insights into cause-and-effect relationships. Unlike in the natural sciences, however, the pupils are not just observers but are directly ‘in the thick of things’ as they take part in the experiments themselves. In this way, economic relationships can be experienced directly and playfully through their own actions in the experiment. And the pupils have learning success, because we know: We retain 10% of what we have read, 20% of what we have heard, 30% of what we have seen, but 90% of what we have done ourselves.
The "Wirtschafts-AG" has been in existence since the pilot phase in the 2019/2020 school year, which was carried out at three selected grammar schools in Osnabrück. The individual courses were planned by employees of Osnabrück University and carried out on site.
Following a successful pilot phase, the project is now in its second phase. For the second phase, the content of the experiments was adapted to the curriculum. The project is now represented at grammar schools from year 8 to 13 as well as at vocational schools.
The project is supported by the Friedel & Gisela Bohnenkamp-Stiftung.
What is a business lab?
Bild: Wirtschaftslabor der Universität Osnabrück
When we talk about scientific experiments in laboratories, many people quickly conjure up images of fuming reactions in a chemistry lab or people wired to the head in a psychology lab. In the field of experimental economics, however, a computer room with networked computers and appropriate software is all that is needed to set up an economics laboratory. In the economic laboratory, the participants in the experiment are given certain economic framework conditions by the software and the researchers within which they have to make a virtual economic decision on the computer. Depending on the experiment, the participants play for themselves, with each other or against each other.
Our experiments
| How markets work | Supply and demand on the goods market |
| Market with taxes | |
| Labour market (and minimum wage) | |
| Humans vs. homo economicus | Dictator game |
| Ultimatum game | |
| Wage negotiations | |
| Role of the negotiating power | |
| Financial decisions and decisions under uncertainty | Risk behaviour |
| Financial investment | |
| Insurance | |
| Public goods and joint decisions | Public goods and free riders |
| Tax financing of public goods | |
| Overcoming free-rider problems | |
| Networks and digital economies | Network effects |
| Network effects and competition | |
You can download a detailed description of the experiment here.
Didactic concept
The didactic concept of the Economics Works! project is characterised by the fact that the pupils are given an understanding of the basic content of the subject of economics, particularly in action-oriented lessons and through their own experiences. The pupils take part in economic experiments, experiencing economic relationships in a playful way and then reflecting on the content in an open discussion. The economic experiments take place in the computer room at school (= the economics lab) or on their own computer at home. Current topics and issues, such as national and international economic policy, can be addressed in the discussions. Where possible, the discussion is organised according to the interests and suggestions of the pupils. The aim is not only to familiarise students with the economic principles of the subject of politics and economics, but also to question them, to criticise them both positively and negatively and ultimately to give students a reflected understanding of economic relationships.
A tandem model is planned for the implementation and integration of the experiments and economic games into lessons, in which a teacher is always supported by a project employee. Teachers are responsible for integrating the experiment into the lesson and the project staff carry out the experiments and take care of the technical implementation. Teachers can contact the project staff at any time with questions about content and organisation.
The economics laboratory can be used very flexibly on site or from home and is suitable for use as a working group, for integration into the seminar subject ‘Economics’ or for integration into regular lessons throughout the school year.
Curriculum
Various topics from the current core curriculum of the state of Lower Saxony for the subject of politics and economics for the upper secondary level are taken up, prepared at school level and prospects for further questions are given. The following topics are taken from the core curriculum:
- Consumer decisions of young people
- Creation and functions of markets and prices
- Effects of market failures and interventions in markets
- Labour markets and minimum wage
- Environmental problems as market failures (public goods and negative externalities)
- Digital economies and markets for goods with network effects
- Structural change, work and labour change
The topics listed here are supplemented by some essential concepts of economics, such as behaviour in decisions under risk and uncertainty or the concept of homo economicus.
Aim of the project: What should pupils take away with them?
By taking part in the experiments as part of the Economics Works! project, pupils experience some of the basics of economics first-hand. In particular, they learn
- how they themselves act when making decisions in the face of uncertainty and risk,
- how and according to which behavioural patterns they behave in negotiations,
- how markets come about and the consequences of interventions in markets,
- the extent to which they act in a co-operative or self-interested manner when participating in a common good,
- which market dynamics arise in digital economies and markets for network goods and how these affect price mechanisms and user numbers.
- How the veil of ignorance affects decisions
The individual and collective behaviour of the students is reflected on and discussed in debriefings on the experiments, so that participation in the Economics Works! project ultimately results in a comprehensive understanding of economic relationships.
Sponsors and project partners
Sponsor
Friedel & Gisela Bohnenkampstiftung: https://www.bohnenkamp-stiftung.de/
Pilot schools
Gymnasium in der Wüste Osnabrück: https://www.gidw.de/
Gymnasium Carolinum Osnabrück: http://www.carolinum-osnabrueck.de/index.html
Ratsgymnasium Osnabrück: http://ratsgymnasium-os.de/
Partner schools
Greselius Gymnasium Bramsche: https://www.greselius.de/
Gymnasium an der Vechte - Emlichheim: gymnasium-an-der-vechte.de
Integrierte Gesamtschule Osnabrück: www.igs-osnabrueck.de
More schools
Berufsbildende Schulen Aurich: https://www.bbs1-aurich.de/home/
Gymnasium Otterndorf: gymnasium-otterndorf.de
Gymnasium Bad Iburg: https://www.gymnasium-badiburg.de/
Programming the experiments and providing the required software and server
SoPHIE Labs GmbH: https://www.sophielabs.com/
