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In 2002, IFREE-founder Dr. Vernon Smith was awarded the Nobel Prize in Economics for "having established laboratory experiments as a tool in empirical economic analysis, especially in the study of alternative market mechanisms." |
IFREE's Educational Philosophy "Tell me and I forget. Teach me and I remember. Involve me and I learn.”
IFREE supports educational programs that are anchored in the discovery of socio-economic principles gleaned from learning by doing. Through interactive experiments, participants explore both the theory and its practical applications of the visible good afforded by personal social exchange and the invisible good generated by impersonal market exchange. IFREE-supported programs enrich the intellectual development of high school students, undergraduates, and graduate students, as well as post-doctoral fellows seeking careers in academics. |
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