An Experiential Learning Activity for Global Trade, Taxation, and Tariffs in the Classroom
Abstract
Traditional pedagogical approaches in economics often face challenges in effectively conveying complex, abstract concepts such as international trade, tariffs, and taxation to undergraduate students. This study proposes and outlines an interactive classroom activity designed to facilitate deeper understanding and engagement with these fundamental principles. By simulating a global trade environment, students actively participate in decision-making processes regarding production, consumption, and policy implementation (tariffs and taxes). This hands-on experiential learning method aims to move beyond rote memorization and foster intuitive comprehension of economic incentives, market dynamics, and policy consequences. We describe the detailed methodology of the activity, its observed outcomes in terms of student engagement and conceptual clarity, and discuss its implications for enhancing economic education. This approach aligns with modern pedagogical trends emphasizing active learning and real-world application to bridge the gap between theoretical knowledge and practical understanding.