Weeks |
Activities |
Game
Assignments |
Simulation
Exercises |
1 |
Students register online |
View online tutorials |
|
2 |
Students learn basics of game |
View guided tour & read Student Manual |
* Introduction |
3 |
Divide class into teams to prepare for Competition (students organize & develop strategies) |
Practice Game**
|
|
4 |
Team competition begins |
Team Decisions Quarter 1
|
|
5 |
Students estimate demand in simulation |
Evaluate Demand Activity
Team Decisions Quarter 2
|
Law of Demand |
6 |
Students verify their demand model and adjust |
Team Decisions Quarter 3 |
Price Elasticity |
7 |
Students estimate production costs in simulation |
Evaluate Cost Activity
Team Decisions Quarter 4 |
Short-run Cost |
8 |
Students verify their cost model and adjust |
Team Decisions Quarter 5 |
Long-run Cost |
9-10 |
Students apply profit maximization rule
| Profit Maximization Activity
Team Decisions Quarters 6 &7 |
Revenue Maximization |
11 |
Students consider gaming theory and cartels |
Collusion Activity
Team Decisions Quarter 8 |
|
12 |
Students experience gaming theory & cartels
| Collusion Activity continued;
Team Decisions Quarter 9 - the end |
|
13 |
Teams meet to evaluate performance and learning lessons |
Prepare Team Reports on game performance |
|
14 |
WRAP-UP: Team Presentations - Optional |
Team Reports due |
|
