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Students Turn Economic Concepts into Sweet Rewards

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A student a part of the One Chip Wonder cookie business with his chocolate chip cookies.

Micro Cookie Businesses Donate Profits to Health and Wellness Center

At The University of Olivet, even an economics class offers an immersive learning experience. Over one month late in the fall semester, students in Economics 203 Principles of Microeconomics (ECO 203) created and launched two successful micro-businesses in support of the UOlivet Health and Wellness Center.

Under the guidance of Professor Kelly Corey, Ph.D., UOlivet became a learning laboratory when ECO 203 students engaged peers, faculty and staff in a market survey to gather data during the business planning phase. The market research found that cookies and Olivet’s Health and Wellness Center matter to the UOlivet community.

The students split into two teams to develop two micro cookie businesses, One Chip Wonder and Christmas Cookie Delights, with proceeds from the ventures being donated to the Health and Wellness Center.

Hance House, the presidential residence, served as the production site, where One Chip Wonder and Christmas Cookie Delights companies baked and packaged 211 cookies. Sales of the cookies were swift, with both companies selling out. The goal was to generate enough revenue to cover costs and have profit remaining to donate. One Chip Wonder generated a gross profit of $79.02, and Christmas Cookie Delights cleared $58.18.

Nathan Droste, an insurance risk management major, said, “It was surprising how well we communicated and coordinated among everyone in the class to produce a product that people wanted to buy.”

Health and Wellness Director Robin Luckadoo Chadderon was grateful for the $137 donation. Robin wants students to feel comfortable dropping by the Health and Wellness Center anytime for conversation, guidance or help. To encourage fellowship, Robin offers free popcorn every Wednesday and Friday to whoever drops by. She’s been doing this out of her heart and paying for the popcorn out of her pocket. The ECO 203 donation will be used to purchase popcorn during the spring semester.

Accounting junior Hailey May delivered the donation to Robin on behalf of the ECO 203 class. “It is cool that we got to see what we’ve learned in action when we ran our businesses, and we got to make a difference in the Olivet community,” Hailey said.

Robin said, “This is a great example of how our students care for each other – they’re learning way more than economics. And we are excited to pop popcorn that our students provided for our students. Come by on Wednesdays and Fridays to reap the rewards of your cookie purchases!”

The immersive experience created the perfect opportunity for students to try out concepts learned during the semester in real-time. Beyond practicing economic concepts like demand and supply, elasticity and market structures, students also learned and applied communication, problem-solving, teamwork, and even baking skills.

Professor Corey was inspired by the academic article “Baking for Economics and the Community–An Experiential Learning Project for the Principles of Microeconomics Class” by Guanlin Gao.

Learn more about The University of Olivet by contacting the Office of Admission at admissions@UOlivet.edu or 269-749-7635.

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