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Spanish Real Estate Bubble: A Classroom Experiment
Multidisciplinary Journal for Education, Social and Technological Sciences ( IF 1.6 ) Pub Date : 2016-10-03 , DOI: 10.4995/muse.2016.6377
Fernando Castello-Sirvent

The European Higher Education Area (EHEA) requires development of teaching methodologies that encourage active participation by students in the autonomous learning process, taking the figure of the professor as the mediator. On the other hand, the economy is a fundamental aspect in today’s society insofar that it contributes to explaining the behaviour of individuals. In this sense, the experimental economy applied in lecture rooms is presented as an innovative educational procedure that is perfectly adapted to university teaching, since it facilitates acquisition and consolidation of curricular knowledge and favours the development of capabilities by students, whilst at the same time improving the quality of teaching and has a positive impact on the interest students have in the subject. This paper describes the application of an economic experiment as an active learning method to prove the mechanisms used to set prices. The experience took place at the ESIC Business and Marketing School Valencia university centre, within the subject of “Spanish Economy” in Official Business Management and Administration degrees and in Marketing and Sales Management degrees. The starting point for this experience was the work by Radim Bohacek (2002), adding changes aimed at empirically explaining inflation, the real estate bubble and subsequent economic crisis in Spain. The obtained results prove that this educational experience favours learning of the economic concepts students study, and stimulates proactive interest in the subject. From the obtained results a second experiment is proposed in order to consolidate concepts concerning price setting mechanisms in the presence of intervention by the Public Sector (taxes and subsidies) or establishing incentives that model collusive behaviour leading to situations where market offers are concentrated in oligopolies.

中文翻译:

西班牙房地产泡沫:课堂实验

欧洲高等教育区(EHEA)要求发展教学方法,鼓励学生以教授的身份为中介,积极参与自主学习过程。另一方面,就其有助于解释个人行为而言,经济是当今社会的基本方面。从这个意义上讲,应用于教室的实验经济是一种创新的教育程序,完全适合大学教学,因为它可以促进课程知识的获取和巩固,有利于学生的能力发展,同时又可以提高教学质量,并对学生对该学科的兴趣产生积极影响。本文介绍了经济实验作为一种主动学习方法的应用,以证明设定价格的机制。体验是在ESIC商业和市场营销学院巴伦西亚大学中心进行的,在“西班牙经济”主题下获得了官方商业管理和管理学位以及市场营销和销售管理学位。这项经验的起点是Radim Bohacek(2002)的工作,增加了旨在凭经验解释通货膨胀,房地产泡沫和随后西班牙经济危机的变化。获得的结果证明,这种教育经验有利于学习学生学习的经济概念,并激发对该学科的积极兴趣。
更新日期:2016-10-03
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