Abstract

The dominant empirical paradigm in economics for more than half a century has been econometrics, which involves the use of statistical methods to identify patterns in data. This paradigm has induced a quantitative approach to teaching, with positive and negative effects on the educational process. An emerging alternative research methodology involves the use of lab experiments. This method of economic inquiry is more akin to the physical sciences and opens up fresh possibilities for the teacher to develop student learning in new directions. This paper explores this frontier, outlining the rationale for using experimental economics in the classroom, and exploring some implications for the future infrastructure of teaching and learning in the discipline.