Gyeongin National University of Education opened a special course of lecture on the market economy in the spring semester of 2006 at Gyeonggi Campus. Twelve lecturers, consisting of seven professors from universities, three CEOs, a director of research institute, and a journalist, gave independent lectures on the basic principles of the market economy and competitive business environments for 90 freshmen. The main purpose of this study is to analyze the effects of this course on enrolled students\' knowledge of basic principles of the market economy, and to find implications and future directions for a successful course. The survey results show that the course was proved effective in improving students\' understanding of the free market. The course also helped to correct students\' skewed views on capitalism, labor unions, price control, and growth-oriented policies. It may be implied from these results that more opportunities to take the lecture on the market economy should be given for students.