Wednesday 19 November 2008

FAQ for Vernon L. Smith High School Workshop in Experimental Economics

  1. What are the Objectives for the Experimental Economics Workshop?
  2. What Does the Daily Schedule Look Like?
  3. What is the Deadline for application?
  4. What kinds of Topics will Participants Encounter at the Workshop?
  5. What Will I Do at the Experimental Economics Summer Workshop?
  6. What will it Cost? What do Scholarships Cover?
  7. Where will the Workshops be Held?
  8. Who Should Apply?
  9. Why Would my Parent(s) be Pleased I Enrolled?

Question: What are the Objectives for the Experimental Economics Workshop?

Answer:

  • Expose and involve students in the foundations of economic analysis
  • Introduce students to economics as an observational science
  • Demonstrate its effectiveness as an important tool to test economic theories
  • Inform the economic debate to policy questions
  • Put knowledge to work on building solutions to specific economic problems with team involvement
  • Offer new topics, problems, and experiments about human behavior
  • Illustrate the workings of economic principles in market institutions and social exchange
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    Question: What Does the Daily Schedule Look Like?

    Answer:

    • 9:00 a.m. to 3:00 p.m. each day
    • One hour lunch
    • Morning and afternoon breaks
    • Students are expected to attend all five days.

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    Question: What is the Deadline for application?

    Answer: All applications received by April 1, 2008 will receive consideration. After April 1,applications will be considered as space allows.

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    Question: What kinds of Topics will Participants Encounter at the Workshop?

    Answer:

    • Supply and demand and the meaning of "cost"
    • Personal and impersonal exchange
    • Game theory (normal and extensive form)
    • Natural resource and other environmental problems
    • ssues in deregulating markets: electric power
    • Asset (stock) markets

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    Question: What Will I Do at the Experimental Economics Summer Workshop?

    Answer:

    • Actively participate in the decision making in markets and the learning process
    • Engage and problem-solve with others
    • Learn how to apply the scientific method to economic behavior
    • Discuss real-world policy questions
    • Discover that economics can be fun in a fast-paced course on the science of human behavior and choice
    • Earn cash daily from your experiment decisions

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    Question: What will it Cost? What do Scholarships Cover?

    Answer:

    • Upon acceptance, there is a $50 laboratory fee to participate in the workshop.
    • Fellowships cover materials and lunch on Monday, Wednesday, and Friday.

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    Question: Where will the Workshops be Held?

    Answer: George Mason University, Arlington Campus
    3330 Washington Blvd., Suite 400R,
    Arlington, VA 22201

    A short walk fromthe Virginia Square Orange Line Metro stop.

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    Question: Who Should Apply?

    Answer:

    • Rising high school juniors and seniors
    • Graduating high school seniors

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    Question: Why Would my Parent(s) be Pleased I Enrolled?

    Answer:

    • I'll be learning something unavailable anywhere else.
    • I will be making new friends and networking with other like-minded students from other schools.
    • This experience will serve in building my college application portfolio.
    • I'll be challenged intellectually.

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3330 Washington Blvd.,
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703.993.4850
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