Teaching Learning Curves In An Undergraduate Economics Or Operations Management Course

Abstract

Learning Curves has its roots in economics and behavioral psychology. Learning Curves theory has several business applications and is widely used in the industry. As faculty of Operations Management courses, we cover this topic in some depth in the classroom. In this paper, we present some of our teaching methods and material that have helped us in communicating the learning curves concept. The students have found these very helpful in grasping the concepts better. We present comparative charts that highlight the key differences among the three standard methods for learning curve calculations. Students find these comparative charts to be very helpful in understanding these methods and in choosing the least time-consuming method when a problem can be solved in more than one way – often important during a time based exam. Furthermore, we point out an error and an ambiguity in textbooks and also provide some insights into the formula method.