The continuous development of the IOT technology is rapidly penetrating into all walks of life, which promotes the mobile Internet into a new service system, and mobile teaching methods with the characteristics of flexibility and interactivity are also becoming popular. This kind of learning mode enables students to get rid of the limitation of time and space, and can carry out targeted learning, so that different types of students can reasonably arrange their learning objectives according to their own learning quality. For students majoring in economic management, more and more enterprises require them to have practical ability and cooperation ability. Therefore, it is necessary to focus on cultivating students' cooperation ability and theoretical practice ability in education and teaching. The traditional teaching mode does not meet the needs of the times. It is necessary to study the economic management teaching mode in the new era of Internet of things to promote the reform of education industry. Therefore, it is of great significance to study the economic management teaching mode based on mobile learning and collaborative learning. This paper first introduces the principle and technical support of the IOT, analyzes the reform of economic management teaching mode under the environment of the IOT and the experimental teaching process using the IOT technology and virtual technology. This paper analyzes the current situation of experimental education and the characteristics of the teaching mode based on mobile learning and collaborative learning through the method of literature research, and uses the method of questionnaire survey to investigate the students in the experimental teaching center of economic management in Colleges and universities. The survey results show that in the IOT environment, the experimental teaching mode based on mobile learning and collaborative learning can effectively mobilize students' learning enthusiasm, and can improve students' theoretical and practical ability, cooperative ability and autonomous learning ability to a certain extent.