I think the two minute paper is an extremely effective learning strategy for students. Students know at the beginning of any lecture that they will be required to take some type of test. The two minute paper is a very effective tool because it forces the students to focus their thoughts immediately at the end of the lecture while everything is still fresh in their minds. I think it is much better to have students write an immediate brief summation rather than requiring a written report the next day.
It will show the students what they retained and what they didn't retain and then they can learn to make themselves pay attention to the important things. This way they won't forget facts as easily but they will remember them even longer than they would if they didn't write all of it or write as much as they can in 2 minute spans of time.
The two minute paper is effective learning strategy because it teaches students to sum up their thoughts quickly. Summing up thoughts will always be useful for people too. It aids after listening to a lecture, reading a book, or watching a movie. It also aids in explaining these things to other people.
Yes, a two minute paper, summing up a lecture, is an effective strategy for students, because it makes them pay attention in class. A student should have to show that they have paid attention for the past hour. The best way to learn in a class is to show up and listen well.