Using 'The Apprentice' to Teach a Managerial Economics Course

The use of economic analysis has become increasingly important for decision making in the business environment. Students who can demonstrate their ability to think analytically by applying economic concepts to business decisions are an attractive asset to many firms. As educators, we often look for ways to help students acquire the skills they will need in their future careers. This paper describes a game based on the television show "The Apprentice" that promotes the development of these skills. More specifically, this interactive game is meant to be used as a supplement to the traditional lecture style format of a managerial economics (or other business related) course. After assigning students to teams and giving them tasks to complete, students experience first-hand what it is like to make real-world business decisions. In addition, students have the opportunity to develop a variety of skills while applying what they learn in the game to class material. Furthermore, students will begin to understand what it is like to be held accountable for their decisions as they face a boardroom situation in which some individuals will be fired. The main goal of this game is to create an active learning environment that is conducive to helping students develop analytical, leadership, communication, and entrepreneurial skills