Pioneering e-learning tool launched to give undergraduates a head start in microeconomics
Today sees the launch of a new interactive e-learning tool to help undergraduates get a handle on microeconomics. LiveEcon Microeconomics Essentials aims to engage students in the subject by allowing them to manipulate economic variables and immediately see the effects in moving on-screen tables and charts. The unique new programme follows the success of its sister product, LiveEcon Macroeconomics, which is currently being used to help undergraduates at 35 universities in the UK and worldwide, grasp the principles of macroeconomics. Dr Jochen Runde, Reader in Economics at Judge Business School and co-author of LiveEcon Microeconomics Essentials, believes that while economics will always be a challenging subject, bringing it to life through LiveEcon will help students understand the concepts and how they apply to the real world. "For example, in the U-Drive-It! section, users can manipulate price, or impose a demand shock and immediately see on-screen how it affects the firms in the industry," says Dr Runde. "This is unique and LiveEcon's main advantage because by making the subject visual and interactive like this, we can engage students in a way that isn't possible with conventional textbooks." Students are also guided through dynamic moving tutorials covering all the main issues of economic theory, before testing their understanding through interactive question-and-answer sessions
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