The earliest example in economics is Adam Smith’s surprising claim that under the right rules of the game, interactions of entirely self-interested individuals might by means of “an invisible hand” result in a socially beneficial allocation of soci-ety’s resources.

Learning by doing economics is the approach that one of us (SB) adopted as a new assistant professor in the late 1960s when assigned to co-teach the advanced micro-economic theory course in the PhD program at Harvard. We did not give a single lecture; we just asked questions to be discussed based on the readings and set problems to be solved [31]... See more

Our mantra about pedagogy is: “If you are not doing something you are not learning anything!” Solving problems is something you can do