Hi Siddharth,
Thanks for your comment. There are several problems that prevent to change the format of the class:
1) Econ 2005 is a core introductory course that covers main concepts and theories of microeconomics and as a result the nature of the course is in a way that we need to test students through hw/exams to become sure that students understand most of theories and concepts. Having a final project will give a chance for each student or group of students to focus only on narrow issues with use of several theories they have learned through the course so even if I can do that, the weight of the project could not be above 10-15% of the whole grade and as a result I think the challenge is still there.
2) As a graduate student, I don’t have freedom to change the format of the course. The course format is determined by Econ department and there are several sections of econ2005 in every semester. I have some freedom to change the weight of tests/hw or add a small project but I don’t have freedom to put for instance 40% of the whole grade for a final project.
3) Most of my students are either freshmen or sophomores and for them it is also very hard to do a project for a course such as principle of microeconomics.
4) In addition, I myself found doing project for elective course so useful and helpful for learning but not for core/theoretical course and I think having evaluation based on hw/exams work better for a course like econ2005. The challenge in my mind is to find a way to stimulate learning environment with current format.