The audience response system (ARS) has increasingly been used to engage students by eliciting and analyzing responses to questions posed by instructors. The authors discuss how they used the system to facilitate pit market trading in a microeconomics class, report the efficacy of the approach and provide suggestions extending the use of ARS to other experiments. Using the ARS to facilitate active learning by engaging students in economics experiments has pedagogical advantages over both the labor-intensive approach of pencil-and-paper and the capital-intensive route of relying on networked or on-line computer labs which oftentimes preclude or restrict face-to-face student interactions. Thus, the new method represents an added advantage on top of such conventional functions as taking attendance and administering quizzes of this increasingly popular classroom technology.