Experimental Economics Class Children Become Global Citizens
 |
Description
Book Introduction
“Become a global citizen and enter the ‘Forest of Economy’
Let's all go on an adventure together!”
The best storytelling economics textbook, highly praised by current teachers and parents,
The second story of [Children of the Experimental Economics Class]!
“This book cultivates the ability to read the global economic trends based on an understanding of various economic phenomena occurring in reality.
Through this, we can naturally grasp why we must be concerned about fluctuations in the U.S. benchmark interest rate and the interdependence of the global economy.”
Kim Dong-hwan, Chairman of Sampro TV
The best-selling book, "The Kids of the Strongest Experimental Economics Class," which tells the story of the actual classes of the prestigious "Experimental Economics Class," a star club that has produced numerous top students, has received rave reviews from current teachers and parents alike.
Following this, the second book, “Children of the Experimental Economics Class Who Became Global Citizens,” was published.
While the previous work covered the essential economic principles and concepts, this book expands the scope of thinking to the global level, allowing readers to understand not only the individual but also the connected economy of society, nations, and even countries from various perspectives.
That is, through the storytelling class of Mr. Na, who leads the experimental economics class, and seven friends, 15 macro topics such as trade and exchange rates, money supply and inflation, major economic policies and base interest rates, income inequality, and depletion of shared resources are discussed and discussed in an exciting way through a variety of activities such as plays and various behavioral economics experiments.
"Children of the Experimental Economics Class Who Became Global Citizens," which addresses the interconnected aspects of the global economy from the perspective of young people, will provide readers with insight that allows them to understand and predict the economy from a broader perspective, beyond the immediate economic phenomena at hand.
Let's all go on an adventure together!”
The best storytelling economics textbook, highly praised by current teachers and parents,
The second story of [Children of the Experimental Economics Class]!
“This book cultivates the ability to read the global economic trends based on an understanding of various economic phenomena occurring in reality.
Through this, we can naturally grasp why we must be concerned about fluctuations in the U.S. benchmark interest rate and the interdependence of the global economy.”
Kim Dong-hwan, Chairman of Sampro TV
The best-selling book, "The Kids of the Strongest Experimental Economics Class," which tells the story of the actual classes of the prestigious "Experimental Economics Class," a star club that has produced numerous top students, has received rave reviews from current teachers and parents alike.
Following this, the second book, “Children of the Experimental Economics Class Who Became Global Citizens,” was published.
While the previous work covered the essential economic principles and concepts, this book expands the scope of thinking to the global level, allowing readers to understand not only the individual but also the connected economy of society, nations, and even countries from various perspectives.
That is, through the storytelling class of Mr. Na, who leads the experimental economics class, and seven friends, 15 macro topics such as trade and exchange rates, money supply and inflation, major economic policies and base interest rates, income inequality, and depletion of shared resources are discussed and discussed in an exciting way through a variety of activities such as plays and various behavioral economics experiments.
"Children of the Experimental Economics Class Who Became Global Citizens," which addresses the interconnected aspects of the global economy from the perspective of young people, will provide readers with insight that allows them to understand and predict the economy from a broader perspective, beyond the immediate economic phenomena at hand.
- You can preview some of the book's contents.
Preview
index
prolog
Introducing the Experimental Economics Class!
Chapter 1: International Economy: Trade is a Win-Win!
1 Where are the sneakers I wear manufactured?
Learning the Power of Trade with Alphabet Games
2 Everyone has something they are relatively good at!
Understanding Comparative Advantage through Role Play
Adding Mathematical Thinking ①
3 The sun is an unfair competitor?
Free Trade and Protectionism: A Debate on the Pros and Cons
Add mathematical thinking ②
4 Are you evaluating whether the exchange rate is fair based on the price of a Big Mac?
Learning about exchange rate determination and fluctuations while eating a hamburger
Add mathematical thinking ③
[Economic Concepts in Focus!] Both free trade agreements and exchange rate fluctuations have dual aspects.
Chapter 2 Monetary Policy: Efforts to Stabilize the Value of Money
1 What would happen if every citizen received 100 million won?
Money Supply and Inflation as Seen Through the Auction of Bundles of Goods
2. Why no one deposits money in the Bank of Korea
The Bank of Korea's Role as Seen Through Field Trips at the Currency and Finance Museum
Add Mathematical Thinking ④
3 What happened in our country in 1997?
The Foreign Exchange Crisis as Seen Through a Time Travel Play
[Economic Concepts in Point!] What does the government do to ensure economic stability?
Chapter 3 Public Economics: Choices for Everyone's Future
1 We need an air purifier in the classroom!
The Problem of Public Goods Production as Considered Through the Public Goods Game
Add Mathematical Thinking ⑤
2 How should taxes be collected?
Resolving Wealth and Income Inequality Through Tax Collection Methods
Add mathematical thinking ⑥
3 Save the Endangered African Elephants!
The tragedy of shared resources experienced while playing a fishing game
Add Mathematical Thinking ⑦
4 Turning the tragedy of shared resources into comedy!
Positive examples of shared resource management through community agreements
Add mathematical thinking ⑧
[Economic Concepts in Focus!] Let's explore the connection between public goods, shared resources, and the establishment of property rights!
Chapter 4: The Economics of Fairness: People Who Don't Act Alone for Economic Gains
1 If you were to split 10,000 won with a friend, how much would you give?
Negotiation Skills Learned Through the Share-Sharing Game
Add mathematical thinking ⑨
2 If I give recognition, will it come back to me?
Reciprocity as seen through the trust game
3 An eye for an eye, a tooth for a tooth
Reciprocity as a Public Goods Game with Punishment
Add mathematical thinking ⑩
4. Do you charge more for cola on hot days?
Understanding the Economics of Fairness Through Fairness Thought Experiments
[Economic Concepts in Point!] What Factors Influence Behavior?
Epilogue
Acknowledgements
Introducing the Experimental Economics Class!
Chapter 1: International Economy: Trade is a Win-Win!
1 Where are the sneakers I wear manufactured?
Learning the Power of Trade with Alphabet Games
2 Everyone has something they are relatively good at!
Understanding Comparative Advantage through Role Play
Adding Mathematical Thinking ①
3 The sun is an unfair competitor?
Free Trade and Protectionism: A Debate on the Pros and Cons
Add mathematical thinking ②
4 Are you evaluating whether the exchange rate is fair based on the price of a Big Mac?
Learning about exchange rate determination and fluctuations while eating a hamburger
Add mathematical thinking ③
[Economic Concepts in Focus!] Both free trade agreements and exchange rate fluctuations have dual aspects.
Chapter 2 Monetary Policy: Efforts to Stabilize the Value of Money
1 What would happen if every citizen received 100 million won?
Money Supply and Inflation as Seen Through the Auction of Bundles of Goods
2. Why no one deposits money in the Bank of Korea
The Bank of Korea's Role as Seen Through Field Trips at the Currency and Finance Museum
Add Mathematical Thinking ④
3 What happened in our country in 1997?
The Foreign Exchange Crisis as Seen Through a Time Travel Play
[Economic Concepts in Point!] What does the government do to ensure economic stability?
Chapter 3 Public Economics: Choices for Everyone's Future
1 We need an air purifier in the classroom!
The Problem of Public Goods Production as Considered Through the Public Goods Game
Add Mathematical Thinking ⑤
2 How should taxes be collected?
Resolving Wealth and Income Inequality Through Tax Collection Methods
Add mathematical thinking ⑥
3 Save the Endangered African Elephants!
The tragedy of shared resources experienced while playing a fishing game
Add Mathematical Thinking ⑦
4 Turning the tragedy of shared resources into comedy!
Positive examples of shared resource management through community agreements
Add mathematical thinking ⑧
[Economic Concepts in Focus!] Let's explore the connection between public goods, shared resources, and the establishment of property rights!
Chapter 4: The Economics of Fairness: People Who Don't Act Alone for Economic Gains
1 If you were to split 10,000 won with a friend, how much would you give?
Negotiation Skills Learned Through the Share-Sharing Game
Add mathematical thinking ⑨
2 If I give recognition, will it come back to me?
Reciprocity as seen through the trust game
3 An eye for an eye, a tooth for a tooth
Reciprocity as a Public Goods Game with Punishment
Add mathematical thinking ⑩
4. Do you charge more for cola on hot days?
Understanding the Economics of Fairness Through Fairness Thought Experiments
[Economic Concepts in Point!] What Factors Influence Behavior?
Epilogue
Acknowledgements
Detailed image
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Into the book
"Isn't that amazing? This is why we trade! Not only has overall production increased, but word production across all groups has also increased.
The number of unused alphabets remaining has decreased.”
“Oh, so trade is a win-win situation?”
Kyuhyun said, raising both thumbs up.
“I understand.
So, if we assume this classroom is the world and each group is a country, then trade between countries is mutually beneficial.”
Sihyeon said with sparkling eyes.
“That’s right.
Resources are distributed unevenly across countries.
There is no oil production in our country.
“It’s like we didn’t have a collection.”
--- p.30~31
“When determining the exchange rate in our country, the exchange rate against the US dollar is first determined based on the supply and demand for dollars, and then the exchange rate with other currencies is determined accordingly.
In that sense, it is also called a ‘reserve currency’ meaning a currency that serves as a benchmark for the US dollar.”
“The exchange rate against the US dollar is important.”
Jae-yeon said to the teacher.
“But when we want to see if the exchange rate determined in this way reflects the actual value (purchasing power), we often use the Big Mac.”
“Why a Big Mac?”
Sihyeon asked.
“You said the Big Mac you had in Japan tasted similar, right? That’s because Big Macs are sold with the same quality everywhere in the world.
If we think about it as 'the same product is sold for the same value everywhere,' then when you convert the price of a Big Mac in each country to US dollars, the price should be the same.”
--- p.75
Have you ever heard the story of the mother who worried about her son selling straw sandals when it rained, and worried about her son selling wooden clogs when the sun was shining? This mother probably couldn't have completely loved or hated either rainy or sunny days.
So, is it better for the exchange rate to rise or fall? This question, like the story of the straw sandal seller and the wooden clog seller, has two sides.
A rising exchange rate may be welcomed by exporters, but it will be difficult for importers.
If the exchange rate rises and the value of the won falls, the price of our country's products expressed in dollars will be cheaper when they are exported overseas, so exports will go well.
On the other hand, the Korean Won price of imported goods will rise, which may result in losses for importers.
If you are going to travel or study abroad, it would be beneficial if the exchange rate goes down, right?
--- p.83
“Let’s say I’m the Bank of Korea.
This envelope is a bond issued by the Bank of Korea.
If you buy it now for 20,000 won, I promise to give you 22,000 won in three months.
Interest will be paid in cash! Who wants to buy this?
At Mr. Na's suggestion, both you and I shouted, "Me! Me!"
Mr. Na sold bonds to all seven of his friends and collected 140,000 won.
“Let’s see, I collected 140,000 won.
You have 35,000 won left.
As the Bank of Korea, I sold bonds at good conditions, and the amount of money circulating in the market decreased significantly.
The money held by the Bank of Korea is not the currency supply.
When the money supply becomes too large and becomes a problem, the Bank of Korea implements a policy of selling bonds to reduce the money supply.
Conversely, if there is not enough money circulating in the market and you want to increase the money supply, you can buy back previously sold bonds at good conditions.
“In addition to the Bank of Korea, the government and public institutions also sell or buy government bonds and public bonds at favorable terms to appropriately adjust the money supply.”
--- p.111~112
What if a large sum of money fell from the sky? You'd be incredibly happy, wouldn't you? But what if everyone received that amount of money?
Prices will rise.
The phenomenon of prices continuously rising is called 'inflation'.
As in the experimental economics class's experiment, if the amount of money circulating in the market (the money supply) becomes too large, prices are bound to rise.
Because you have to pay more when you buy things.
Aside from these extreme situations, there are many other causes of inflation.
Inflation also occurs when the economy is doing so well that people are spending a lot of money simultaneously and companies are looking to expand their businesses.
Inflation also occurs when the cost of producing various goods rises (for example, when the price of oil rises, the cost of producing various goods such as plastics and electricity also rises).
The reason people care about inflation is because it affects their economic lives.
--- p.135
"Should I bundle my pens and snacks together, and separate the streetlights and air purifiers? What's the difference between these two bundles?"
“Streetlights and air purifiers are shared by many people.”
“Kyuhyun is right.
I bought my pen.
The streetlights in the story belong to everyone in the village.
“If we put an air purifier in the classroom, it will belong to all of us.”
“Is it the difference between having an owner and not having one?”
Sihyeon answered with sparkling eyes.
“To put it simply, yes.
I own this pen because I paid for it at a stationery store.
Because you can't use it without buying a pen.
This property of excluding those who do not pay from consumption is called 'excludability'.
“A pen is exclusivable, but a streetlight is not.”
“So you’re categorizing goods based on whether or not they are exclusivable.”
--- p.155
“If I catch and eat the fish in the sea, no one else can catch that fish.
Anyone can go out to the sea and catch fish (no one is excluded), but the problem of depletion arises because the amount of fish lost is proportional to the amount of fish caught.
Resources that are competitive but not exclusivable in consumption are called 'common resources'.
The problem of common resources being depleted due to overuse is also called the 'tragedy of the commons'.
“Elephants in the grassland and fish in the sea are both shared resources.”
“There is a difference between public goods and shared resources!”
Jaeyeon said.
"But they say that tuna, pufferfish, and elephants are endangered, so why isn't there talk about the chickens, cows, and pigs we enjoy eating going extinct? Has anyone ever heard of chickens going extinct and we'll never be able to eat them again?"
“Well… isn’t it because there are so many chickens and cows?”
“Is that so? Shall we find out by playing a game this time too?”
The number of unused alphabets remaining has decreased.”
“Oh, so trade is a win-win situation?”
Kyuhyun said, raising both thumbs up.
“I understand.
So, if we assume this classroom is the world and each group is a country, then trade between countries is mutually beneficial.”
Sihyeon said with sparkling eyes.
“That’s right.
Resources are distributed unevenly across countries.
There is no oil production in our country.
“It’s like we didn’t have a collection.”
--- p.30~31
“When determining the exchange rate in our country, the exchange rate against the US dollar is first determined based on the supply and demand for dollars, and then the exchange rate with other currencies is determined accordingly.
In that sense, it is also called a ‘reserve currency’ meaning a currency that serves as a benchmark for the US dollar.”
“The exchange rate against the US dollar is important.”
Jae-yeon said to the teacher.
“But when we want to see if the exchange rate determined in this way reflects the actual value (purchasing power), we often use the Big Mac.”
“Why a Big Mac?”
Sihyeon asked.
“You said the Big Mac you had in Japan tasted similar, right? That’s because Big Macs are sold with the same quality everywhere in the world.
If we think about it as 'the same product is sold for the same value everywhere,' then when you convert the price of a Big Mac in each country to US dollars, the price should be the same.”
--- p.75
Have you ever heard the story of the mother who worried about her son selling straw sandals when it rained, and worried about her son selling wooden clogs when the sun was shining? This mother probably couldn't have completely loved or hated either rainy or sunny days.
So, is it better for the exchange rate to rise or fall? This question, like the story of the straw sandal seller and the wooden clog seller, has two sides.
A rising exchange rate may be welcomed by exporters, but it will be difficult for importers.
If the exchange rate rises and the value of the won falls, the price of our country's products expressed in dollars will be cheaper when they are exported overseas, so exports will go well.
On the other hand, the Korean Won price of imported goods will rise, which may result in losses for importers.
If you are going to travel or study abroad, it would be beneficial if the exchange rate goes down, right?
--- p.83
“Let’s say I’m the Bank of Korea.
This envelope is a bond issued by the Bank of Korea.
If you buy it now for 20,000 won, I promise to give you 22,000 won in three months.
Interest will be paid in cash! Who wants to buy this?
At Mr. Na's suggestion, both you and I shouted, "Me! Me!"
Mr. Na sold bonds to all seven of his friends and collected 140,000 won.
“Let’s see, I collected 140,000 won.
You have 35,000 won left.
As the Bank of Korea, I sold bonds at good conditions, and the amount of money circulating in the market decreased significantly.
The money held by the Bank of Korea is not the currency supply.
When the money supply becomes too large and becomes a problem, the Bank of Korea implements a policy of selling bonds to reduce the money supply.
Conversely, if there is not enough money circulating in the market and you want to increase the money supply, you can buy back previously sold bonds at good conditions.
“In addition to the Bank of Korea, the government and public institutions also sell or buy government bonds and public bonds at favorable terms to appropriately adjust the money supply.”
--- p.111~112
What if a large sum of money fell from the sky? You'd be incredibly happy, wouldn't you? But what if everyone received that amount of money?
Prices will rise.
The phenomenon of prices continuously rising is called 'inflation'.
As in the experimental economics class's experiment, if the amount of money circulating in the market (the money supply) becomes too large, prices are bound to rise.
Because you have to pay more when you buy things.
Aside from these extreme situations, there are many other causes of inflation.
Inflation also occurs when the economy is doing so well that people are spending a lot of money simultaneously and companies are looking to expand their businesses.
Inflation also occurs when the cost of producing various goods rises (for example, when the price of oil rises, the cost of producing various goods such as plastics and electricity also rises).
The reason people care about inflation is because it affects their economic lives.
--- p.135
"Should I bundle my pens and snacks together, and separate the streetlights and air purifiers? What's the difference between these two bundles?"
“Streetlights and air purifiers are shared by many people.”
“Kyuhyun is right.
I bought my pen.
The streetlights in the story belong to everyone in the village.
“If we put an air purifier in the classroom, it will belong to all of us.”
“Is it the difference between having an owner and not having one?”
Sihyeon answered with sparkling eyes.
“To put it simply, yes.
I own this pen because I paid for it at a stationery store.
Because you can't use it without buying a pen.
This property of excluding those who do not pay from consumption is called 'excludability'.
“A pen is exclusivable, but a streetlight is not.”
“So you’re categorizing goods based on whether or not they are exclusivable.”
--- p.155
“If I catch and eat the fish in the sea, no one else can catch that fish.
Anyone can go out to the sea and catch fish (no one is excluded), but the problem of depletion arises because the amount of fish lost is proportional to the amount of fish caught.
Resources that are competitive but not exclusivable in consumption are called 'common resources'.
The problem of common resources being depleted due to overuse is also called the 'tragedy of the commons'.
“Elephants in the grassland and fish in the sea are both shared resources.”
“There is a difference between public goods and shared resources!”
Jaeyeon said.
"But they say that tuna, pufferfish, and elephants are endangered, so why isn't there talk about the chickens, cows, and pigs we enjoy eating going extinct? Has anyone ever heard of chickens going extinct and we'll never be able to eat them again?"
“Well… isn’t it because there are so many chickens and cows?”
“Is that so? Shall we find out by playing a game this time too?”
--- p.185~186
Publisher's Review
For a connected world and a sustainable future, a perspective that sees the whole is essential!
An adventure to understand the forest of economics with a 'cool head and warm heart'!
When Russia invaded Ukraine, oil prices around the world soared, and as oil prices rose, the United States raised its benchmark interest rate to curb inflation, and other countries gradually followed suit.
This phenomenon is also having a major impact on global stock and real estate markets.
Meanwhile, climate change, which is caused by the indiscriminate destruction of shared resources, is emerging as a problem that all of humanity must consider and solve together, rather than a problem for a specific country.
The economic environment of this era is becoming more and more interconnected, to the point where even small changes in other countries can directly and indirectly impact our lives. This phenomenon means that it is essential for us, especially for growing children, to have the ability to "read the changes and trends of the global economy."
Therefore, this book understands the actual impact of a country's economic system and international trade on our economy, and explores and resolves various economic phenomena and problems affecting individuals, society, and the world.
Furthermore, the author shows that some choices that bring the "greatest benefit relative to opportunity cost" to individuals may also have negative social consequences, and ultimately argues that a "cool head and a warm heart" are necessary to live a better life.
This is what British economist Alfred Marshall said is a quality that an economist should have. It means that while making choices based on a cool-headed analysis of costs and benefits, one must also have the ability to reflect on the impact of those choices and who they truly benefit.
The author cultivates children's vision for the "economy" forest for their own future, while also delving into how to find a balance between individual interests and the interests of society to achieve a "sustainable future" where they can move forward together.
Through 15 fascinating behavioral economics experiments
Naturally learn the 'interdependence of the global economy'!
《Children of the Experimental Economics Class Became Global Citizens》 is divided into four chapters and covers 15 topics ranging from the international economy to the economics of fairness.
Chapter 1 first deals with trade and exchange rates.
Learn why countries trade by playing a word-making game with alphabet magnets distributed unequally among groups.
In addition, through the play 'Robinson Crusoe', we learn the concept of 'comparative advantage', which states that if each country specializes in producing and trading what it is relatively good at, it will benefit both sides. We divide into two groups and debate the pros and cons of protectionism, identify the logical basis for the other side's argument, and consider the concept of proposition and various logical approaches.
You'll also learn how exchange rates are determined and how to use purchasing power to determine if an exchange rate is appropriate while eating a Big Mac.
Chapter 2 deals with monetary policy.
Learn why the amount of money needs to be controlled through a bundle auction, and visit the Bank of Korea Currency Museum to learn about the role and function of the Bank of Korea.
We also look at interest rate adjustments as a means of preventing the economy from overheating or stagnating.
Chapter 3 addresses the problem of public goods production and the depletion of shared resources.
By raising money for classroom air purifiers, we learn why public goods are difficult to produce and why taxes are necessary. By playing a fishing game, we also think about why the tragedy of the commons occurs and how to overcome it.
We also explore examples of how shared resources are well managed through community self-governance agreements, and explore ways to create a public economy that benefits everyone.
Finally, in Chapter 4, we learn that human behavior is influenced not only by economic incentives but also by social norms such as caring for others, fairness, and reciprocity.
We observe and discuss under what conditions people's behavior becomes more cooperative, and we also consider how the results can be applied to social systems and culture.
At the end of each chapter, we have summarized the 'Key Economic Concepts' to help you finish the chapter without missing anything.
-Mathematical concepts have become even richer!
"Add Mathematical Thinking" allows you to deepen your learning by solving various quizzes and application problems.
In "Children of the Experimental Economics Class Who Became Global Citizens," the mathematical concepts derived from the text are further explored in depth in "Adding Mathematical Thinking."
In the comparative advantage section, the concept of 'ratio and proportion' is explained, and in the section on exchange rates, the concept of 'composite function' is explained. Through 'sets and propositions,' it teaches how to present evidence and approach it with logical thinking rather than intuition.
We also look at how to measure the degree of inequality in income distribution using the Lorenz curve and the Gini coefficient.
In particular, this book focuses on 'game theory (prisoner's dilemma)', and through various abundant cases that could occur around us, it is possible to easily learn the difficult concept of 'social dilemma' and naturally develop mathematical thinking as well as logical insight to understand the background of social phenomena and creative problem-solving skills.
From the basic principles of economics to how to interpret global economic changes and trends.
The Ultimate Economics Lesson in Two Volumes! [Experimental Economics Class Kids] Series
This series vividly recreates the actual economics classes of a prestigious star club that has produced top students for 13 years in a storytelling format. It carefully selects 32 economics topics that "teenagers must know," and organizes them to help students learn economic principles in an easy and fun way.
In the first, "Children of the Strongest Experimental Economics Class," we learn the basics of economics and rational personal choices by examining each tree in the "economic forest" where everyone is connected. In the second, "Children of the Experimental Economics Class Who Became Global Citizens," we look at the "economic forest" from a broader perspective, learn how to read the flow of the global economy, and learn the factors to consider for a prosperous future.
The [Experimental Economics Class Kids] series, filled with carefully selected, proven course content, will serve as a solid foundation for students preparing for the future and becoming global talents.
An adventure to understand the forest of economics with a 'cool head and warm heart'!
When Russia invaded Ukraine, oil prices around the world soared, and as oil prices rose, the United States raised its benchmark interest rate to curb inflation, and other countries gradually followed suit.
This phenomenon is also having a major impact on global stock and real estate markets.
Meanwhile, climate change, which is caused by the indiscriminate destruction of shared resources, is emerging as a problem that all of humanity must consider and solve together, rather than a problem for a specific country.
The economic environment of this era is becoming more and more interconnected, to the point where even small changes in other countries can directly and indirectly impact our lives. This phenomenon means that it is essential for us, especially for growing children, to have the ability to "read the changes and trends of the global economy."
Therefore, this book understands the actual impact of a country's economic system and international trade on our economy, and explores and resolves various economic phenomena and problems affecting individuals, society, and the world.
Furthermore, the author shows that some choices that bring the "greatest benefit relative to opportunity cost" to individuals may also have negative social consequences, and ultimately argues that a "cool head and a warm heart" are necessary to live a better life.
This is what British economist Alfred Marshall said is a quality that an economist should have. It means that while making choices based on a cool-headed analysis of costs and benefits, one must also have the ability to reflect on the impact of those choices and who they truly benefit.
The author cultivates children's vision for the "economy" forest for their own future, while also delving into how to find a balance between individual interests and the interests of society to achieve a "sustainable future" where they can move forward together.
Through 15 fascinating behavioral economics experiments
Naturally learn the 'interdependence of the global economy'!
《Children of the Experimental Economics Class Became Global Citizens》 is divided into four chapters and covers 15 topics ranging from the international economy to the economics of fairness.
Chapter 1 first deals with trade and exchange rates.
Learn why countries trade by playing a word-making game with alphabet magnets distributed unequally among groups.
In addition, through the play 'Robinson Crusoe', we learn the concept of 'comparative advantage', which states that if each country specializes in producing and trading what it is relatively good at, it will benefit both sides. We divide into two groups and debate the pros and cons of protectionism, identify the logical basis for the other side's argument, and consider the concept of proposition and various logical approaches.
You'll also learn how exchange rates are determined and how to use purchasing power to determine if an exchange rate is appropriate while eating a Big Mac.
Chapter 2 deals with monetary policy.
Learn why the amount of money needs to be controlled through a bundle auction, and visit the Bank of Korea Currency Museum to learn about the role and function of the Bank of Korea.
We also look at interest rate adjustments as a means of preventing the economy from overheating or stagnating.
Chapter 3 addresses the problem of public goods production and the depletion of shared resources.
By raising money for classroom air purifiers, we learn why public goods are difficult to produce and why taxes are necessary. By playing a fishing game, we also think about why the tragedy of the commons occurs and how to overcome it.
We also explore examples of how shared resources are well managed through community self-governance agreements, and explore ways to create a public economy that benefits everyone.
Finally, in Chapter 4, we learn that human behavior is influenced not only by economic incentives but also by social norms such as caring for others, fairness, and reciprocity.
We observe and discuss under what conditions people's behavior becomes more cooperative, and we also consider how the results can be applied to social systems and culture.
At the end of each chapter, we have summarized the 'Key Economic Concepts' to help you finish the chapter without missing anything.
-Mathematical concepts have become even richer!
"Add Mathematical Thinking" allows you to deepen your learning by solving various quizzes and application problems.
In "Children of the Experimental Economics Class Who Became Global Citizens," the mathematical concepts derived from the text are further explored in depth in "Adding Mathematical Thinking."
In the comparative advantage section, the concept of 'ratio and proportion' is explained, and in the section on exchange rates, the concept of 'composite function' is explained. Through 'sets and propositions,' it teaches how to present evidence and approach it with logical thinking rather than intuition.
We also look at how to measure the degree of inequality in income distribution using the Lorenz curve and the Gini coefficient.
In particular, this book focuses on 'game theory (prisoner's dilemma)', and through various abundant cases that could occur around us, it is possible to easily learn the difficult concept of 'social dilemma' and naturally develop mathematical thinking as well as logical insight to understand the background of social phenomena and creative problem-solving skills.
From the basic principles of economics to how to interpret global economic changes and trends.
The Ultimate Economics Lesson in Two Volumes! [Experimental Economics Class Kids] Series
This series vividly recreates the actual economics classes of a prestigious star club that has produced top students for 13 years in a storytelling format. It carefully selects 32 economics topics that "teenagers must know," and organizes them to help students learn economic principles in an easy and fun way.
In the first, "Children of the Strongest Experimental Economics Class," we learn the basics of economics and rational personal choices by examining each tree in the "economic forest" where everyone is connected. In the second, "Children of the Experimental Economics Class Who Became Global Citizens," we look at the "economic forest" from a broader perspective, learn how to read the flow of the global economy, and learn the factors to consider for a prosperous future.
The [Experimental Economics Class Kids] series, filled with carefully selected, proven course content, will serve as a solid foundation for students preparing for the future and becoming global talents.
GOODS SPECIFICS
- Publication date: July 20, 2022
- Page count, weight, size: 272 pages | 466g | 148*210*17mm
- ISBN13: 9791187512691
- ISBN10: 1187512699
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카테고리
korean
korean
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