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Peer Review

Airbnb Entrepreneurs

Reviewed:

Sep 28, 2023 by Business
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Ratings

Overall Rating: 5.0 stars
Content Quality: 5.0 stars
Effectiveness: 5.0 stars
Ease of Use: 5.0 stars
Overview:

Airbnb Entrepreneurs is an assignment that challenges student groups to examine a situation in which an Airbnb entrepreneur has taken out five separate mortgages in a lake resort community to determine the lowest rental rate they can accept on the Airbnb platform before deciding whether it is better to simply not rent them out at all. The assignment is posted on the Starting Point: Teaching and Learning Economics website.  There is a section called Teaching Notes and Tips included to debrief students.

Type of Material:

Assignment

Recommended Uses:

  • In-class
  • Group work
  • Discussion-based
Technical Requirements:

Microsoft Edge, Google Chrome

Identify Major Learning Goals:

Students will be able to:

  • identify the price point when shutting down is the most rational decision to make in the short run
  • distinguish between economic profit and operating profit and
  • apply concepts in context to a real-world scenario.
Target Student Population:

High School, College Lower Division, College Upper Division learners enrolled in an economics, marketing, or entrepeneurships course would be interested in the assignment.

Prerequisite Knowledge or Skills:

Introductory lessson on operating profit, economic profit and sunken costs.

Content Quality

Rating:
Strengths:

  • Economic profit and operating profit are valid economic concepts. 
  • The assignment is accompanied by an overview, teaching tips to debrief students, and an assessment of student learning outcomes.
  • The scenario-based approach is appropriate for teaching abstract concepts. 
  • This material provides a summary, basic information for students to discuss, and a list of discussion questions to consider and answer. 
  • Instructors can be flexible in how they use the questions and what questions to provide to students for consideration.
Concerns:

The teacher would need to provide definitions for AirBNB, economic profit and operating profit. There were no references cited to support the learning material. 

Potential Effectiveness as a Teaching Tool

Rating:
Strengths:

  • The teaching and learning goals were identified.
  • There was an Assessment of Student Learning Outcomes section where two additional prompts about Tesla and sports were included for further discussion of the concepts of economic profit and operating profit.
  • The author further provided a rationale for the discussion questions and supported the answers he/she thought were best. 
  • The students will need to critically think about their decisions and why those answers make sense in the short term and long term.
Concerns:

  • The instructor will need to provide an introduction to the concepts.
  • There is a YouTube video listed under the References and Resources heading to accompany the lesson on sunken costs but it is not clearly tied to the concepts of economic profit and operating profit.

Ease of Use for Both Students and Faculty

Rating:
Strengths:

  • The assignment was easy to navigate.
  • There were bolded headings used to distinguish between each component of the assignment.
  • There were also additional heading options to the left for the website.
  • The website had visually appealing colors and there was a graphic at the top. T
  • The YouTube video had additional images and a transcript. 
  • The material is conveyed in a manner that can be used with different knowledge levels of students. 
  • Instructors can modify the material to fit the individual needs of their class.
Concerns:

Not able to find any information in relation to users with disabilities.

Other Issues and Comments:

  • This material is a great addition to your business classroom. 
  • The basics of economics are made real-life and practical in this case study. 
  • Students should definitely see the benefit of this assignment.
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