Tyler Cowen is a professor of economics at George Mason University and general Renaissance man (seriously, read his blog--he's interested in everything). Alex Tabarrok, also a professor at GMU, shares this fascinating story:
Tyler [Cowen] once walked into class the day of the final exam and he said. “Here is the exam. Write your own questions. Write your own answers. Harder questions and better answers get more points.” Then he walked out.
Would you like to have an exam like this?