Applied Economics Education & Extension

an AAEA Journal

Agricultural and Applied Economics Association

Volume 8, Issue 1, 2026

Cover, TOC and Front Matter

Research Article

Unannounced Quizzes and Exam Performance: Evidence of a Continuous Preparation Effect in Introductory Microeconomics

Moon Joon Kim

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First Published Online: March 25, 2026
DOI: https://doi.org/10.71162/aetr.628384

Abstract: This study investigates whether unannounced quizzes can improve student learning outcomes in introductory microeconomics courses. Using data from 257 students and controlling for section-by-semester fixed effects, we find that unannounced quizzes significantly improve final exam performance. Moreover, quiz performance predicts exam success even when quiz scores do not count toward the final grade. This suggests that the results are driven by a continuous preparation effect—students maintaining regular study habits in anticipation of surprise assessments—rather than by immediate grade incentives. However, under a “best-of-N” quiz grading policy, we identify a trade-off. While this policy provides a safety net for lower-performing students (consistent with mastery learning principles), it inadvertently encourages strategic slacking among high achievers. Once these students have secured the maximum possible quiz credit, they rationally reduce their effort. These findings underscore the importance of designing assessment structures that sustain motivation across the full spectrum of student ability levels.

Keywords: best-of-N grading, preparation effect, satisficing, strategic slacking, unannounced quizzes


Teaching and Educational Methods

Enhancing Student Learning in Statistics and Econometrics Through Experiential Teaching Methods

Kedar Kulkarni

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First Published Online: March 25, 2026
DOI: https://doi.org/10.71162/aetr.626500

Abstract: Undergraduate students often struggle with the abstract and technical nature of statistical inference, especially in classrooms where prior mathematical exposure varies widely. This article evaluates the impact of experiential teaching techniques introduced in a second-year econometrics course at a liberal arts university in India. I designed two low-cost, intuitive interventions: (1) a classroom game using chocolates to demonstrate the Central Limit Theorem and (2) a video case study from professional cricket to explain hypothesis testing through the Decision Review System (DRS). These methods aimed to build conceptual clarity and bridge the gap between statistical theory and application. Using quiz performance data from three consecutive cohorts—two taught using traditional lectures and one using experiential methods—I estimate the effect of the intervention on student performance. Students in the experiential cohort scored 1.78 points higher on a 10-point quiz, representing a 35 percent improvement over the traditional cohort and a 0.64 standard deviation increase. The gains were particularly large for students with weaker quantitative backgrounds. Qualitative feedback further highlights strong student engagement and positive perceptions of the activities. Overall, the results suggest that simple, contextually grounded interventions can enhance students’ understanding of statistical inference, especially when tailored to diverse learning needs.

Keywords: Central Limit Theorem, experiential learning, pedagogy, statistical inference, undergraduate economics education

Futures & Options Book Club: An Innovative Way to Bring Class Material to Life

Maria A. Boerngen and Scott H. Irwin

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First Published Online: March 25, 2026
DOI: https://doi.org/10.71162/aetr.249495

Abstract: Motivating students to read textbooks or assigned readings is a widely acknowledged challenge for college instructors. Trade books written for a popular audience represent a potential resource for addressing this problem. This paper describes the adoption of a trade book in an upper-level agribusiness course. Utilizing a “book club” structure that included pre-class discussion preparation, in-class discussion days, and individual post-discussion reflections throughout the semester, this activity culminated in a class visit from the book’s primary author. We present student feedback, which indicated that students perceived the book club to be a valuable learning experience. This approach offers instructors a road map for increasing student reading and engagement with relevant literature and with their peers and is easily adaptable to a variety of classroom settings.

Keywords: active learning, book club, class discussion, futures markets, trade book

Teaching Agricultural Marketing and Production Contracts in Undergraduate Courses in Agribusiness and Agricultural Economics Programs

Yuliya V. Bolotova

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First Published Online: March 25, 2026
DOI: https://doi.org/10.71162/aetr.554690

Abstract: This article presents lecture materials for teaching agricultural marketing and production contracts in undergraduate courses in agribusiness and agricultural economics programs. These materials can also be utilized as educational materials in Extension and outreach programs. The content includes: (1) discussion of the contracts’ main terms; (2) introduction to marketing (forward) contracts as contracts for the sale of goods and overview of the design of their price mechanisms; (3) introduction to production contracts, the rationale for using them, compared to marketing contracts, and overview of the design of their payment systems; (4) caveats and practical advice; and (5) implementation guidance. The teaching note includes two real-world sample contracts, a milk supply agreement and a broiler production agreement, and two contract checklists to evaluate their terms. It also includes multiple-choice questions and answer keys for all assessments.

Keywords: agricultural contracts, price mechanisms, risk management

Extending the Classroom: An Intercollegiate Strategic Management Simulation for Agribusiness Courses

Andrea Leschewski and R. Brent Ross

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First Published Online: March 25, 2026
DOI: https://doi.org/10.71162/aetr.554721

Abstract: This paper describes and analyzes an innovative intercollegiate strategic agribusiness management simulation designed to amplify the benefits of digital game-based learning (DGBL). Utilizing the Capsim Capstone 2.0 software, the project details the application and structure of competition between undergraduate teams at Michigan State University and South Dakota State University. Analysis of student survey feedback confirms that the intercollegiate format increased student interest and motivation in the simulation project. While intercollegiate competition was supported, students identified key challenges, including limited interuniversity communication, knowledge disparities due to varying course levels, and increased simulation complexity. Based on these insights, practical recommendations and lessons learned are offered for future applications, including facilitating interuniversity communication through virtual platforms and structured meetings, promoting partnerships between courses with similar student profiles, and optimizing simulation settings for clarity. This project demonstrates the strong potential of intercollegiate competition in enhancing DGBL within agricultural and applied economics courses.

Keywords: agribusiness, digital game-based learning, intercollegiate competition, motivation, simulation, strategic management

Student Reflections on Problem-Based Learning: The Use of Open Research Calls in Problem Design

Edel Kelly and Tomás Russell

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First Published Online: February 5, 2026
DOI: https://doi.org/10.71162/aetr.583916

Abstract: While assessment is a necessary part of teaching and learning, how we assess is more flexible. This article demonstrates how using open research calls to design group-based assessment, implemented using the Problem-Based Learning (PBL) approach, enhances the student experience and learning. Data were captured through feedback surveys from final-year undergraduate agricultural science students taking a Food and Agribusiness Strategy module. Student reflections focused on ranking their preferences and perceived learning benefits of various assessment types along with brief justifications for rankings. The overall experience with PBL was captured qualitatively. Findings indicate that the PBL improved engagement and peer-to-peer learning; students were motivated to learn and develop skills they identified as relevant for their future careers. Academics are well positioned to use research calls to design assessments and implement active learning strategies, such as PBL, to structure learning. This approach presents an opportunity for academics to challenge students to engage with real-life problems in a supported environment. Students described the approach as empowering and insightful. The positive sentiment and meaningful engagement experienced by the students were reflected in greater perceived learning benefits and a clear preference for PBL compared to other approaches.

Keywords: agribusiness, problem-based learning, problem design, student reflections


Case Studies

Bridging Demand and Supply in Specialty Crop Diversification: Exploring Market Potential of Finger Limes

Andres Bejarano Loor, Lijun Angelia Chen, Suzanne Thornsbury, and Manjul Dutt

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First Published Online: March 11, 2026
DOI: https://doi.org/10.71162/aetr.466201

Abstract: Peter Wells, a fourth-generation Florida citrus grower, faces increasing challenges from hurricanes, urbanization, and diseases such as huanglongbing (HLB). At a University of Florida field day, he learns about finger limes (Citrus australasica), a recently introduced citrus crop with tolerance to HLB and growing appeal in gourmet food and beverage markets. Finger limes offer diversification and premium price opportunities, but uncertainties remain around supply chains, regulatory hurdles, and long-term demand. This teaching case places students in Peter’s position as he considers whether to convert part of his land to finger limes, continue with traditional citrus, or exit citrus all together. Students are asked to analyze the opportunity using an integrated framework—supply chain mapping, economic systems, and diffusion of innovation—to weigh risks, motivations, and adoption dynamics. Designed for capstone undergraduate and master’s students in agricultural economics and agribusiness, the case develops applied skills in market analysis, innovation adoption, supply chain evaluation, and strategic decision-making under uncertainty.

Keywords: diffusion of innovation, economic systems, finger limes, specialty crops, supply chain

Economic Implications of a Major US Infant Formula Recall: Understanding the Industry, Consumer Behavior, and Policy Response

Jeta Rudi-Polloshka, Sevval Buse Sariman, Mina Hejazi, and Amanda A. Lathrop

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First Published Online: February 10, 2026
DOI: https://doi.org/10.71162/aetr.397392

Abstract: The infant formula recall of 2022 led to substantial shortages in the marketplace for a product that has no market substitutes and is often the sole source of nutrition for young infants. In this case study, we explore the food safety recall from an economic perspective, explaining the industry structure, discussing consumer choice, and exploring government response. The case invites students to explore the complexities that lead to a desperate market situation, with out-of-stock rates for infant formula exceeding 90 percent in many regions of the country. The accompanying teaching note provides guidance and suggested answers for discussion and analytical questions.

Keywords: Cronobacter sakazakii, infant formula, market shortage, recall