|TESTIMONIALS BY INSTRUCTORS
Indiana University Southeast
I love using the Beat the Market simulation. For me, it's about application. Students are learning about Price elasticity & profit maximization but it doesn't really "hit home" or make sense until they utilize these ideas in the simulation. You'll see in an attached evaluation that the students learned what MC=MR is really about. Through the competition in the game, they learned about profit maximizing in various markets. Students understood the importance of the Price Elasticity of Demand because the decisions they made in the game had demand & profit consequences. He also sent an attachment in email of student feedback.
University of South Carolina at Beaufort
As for the BTM Simulation Game, it was by far the most popular component of my Microeconomics course at USC-B. The design of the game allowed me to demonstrate to the students to decisions/results of their decision-making and they were able to translate concepts and theory into actual business situations. Moreover, the structure of the simulation made it very easy to use in a large class setting (normally around 50 students).
Administration of the BTM Game was straightforward, the tutorials were very effective, and the students adjusted quite nicely to playing the game. I used the multi- player option with students organized in teams and we played over eight time periods (quarters). Team rankings were used as a part of my course grade. I would recommend the BTM Game to anyone teaching a basic microeconomics course- it would be effective in both undergraduate and graduate level courses.
Oklahoma City University| Meinders School of Business
A constant problem in teaching intermediate microeconomics is providing the students with a sufficient number of exercises with rapid responses. A further difficulty is linking the ideas of each exercise to the broader context. Repeating the identical numerical exercise(s) is problematic because the students will naturally tend to memorize the answer, but not learn the process. But Beat the Market exercises have provided me with an excellent tool to resolve all of the above issues. Within each problem set the step by step calculations are required with each action of the student generating numerous results, from which they are lead to the solution(s) to other questions. Because the student is acting and generating the results they are more tied to the exercise than is usually the case. The settings which allow repetition are another benefit. My students have quickly learned that starting a little before the due date isn’t a great idea, but that starting early means getting high marks. Whether or not they realize they are learning both economics and some life skills is beside the point. They are learning both.
I have been a fan of the use of games in teaching since I first found the Bergstrom and Miller text on games in classes. Running them in class, with no graduate assistant was terribly time consuming. Using Aplia’s approach was an improvement, but their failure to tie the students’ results with the question/answer section was a continuing problem. Using invented results for a lab experiment is also a demonstration of poor science. Beat the Market games are great for helping students understand different market structures and the limitations of firm behavior in various market structures.
An added benefit of the complexity of the games and the data generated is that my students become aggressively quantitative in their approach to in- class games. Roughly half the class, by the third game, will come armed with a pre-formatted spreadsheet. Some will have created an optimization program. When I run the oligopoly game it usually becomes quite cut-throat with sneering, groans and quite a few cries of anguish and glee.
It has been my experience that students who participate in these games perform exceptionally well in strategic management. Their quantitative analysis skills improve remarkable and their intuition about market structures improves much more than when I was using a more traditional approach. Overall, I have persisted in using Beat the Market in my intermediate microeconomics class because it has, in my opinion, significantly improved the economic understanding and quantitative skills of my students relative to other methods I have tried. An added benefit is the enthusiasm of students to participate in the games. They enjoy it quite a bit.
St. Gregory’s University
I have used the Beat the Market business simulation in both graduate and undergraduate micro courses and I found the product to be overwhelmingly helpful in reaching the students and helping them to understand the material. I highly recommend this product to any instructor desiring to step up their game!