Integrating our Simulation into Principles of Microeconomics
To utilize in your classroom, you can select simulation games & simulation exercises that fit your time frame and curriculum level. The major difference between these are:
For simulation games students compete individually or in teams using tools of economics, making decisions to maximize profits whereas for simulation exercises students observe what is happening in pre-set games and answer a series of multiple choice questions or problems to learn a specific topic such as demand, equilibrium, price elasticity, production, costs and more. Both are automatically graded.
Links below contain example course outlines on how the game is integrated:
For above options, you can select games of different levels:
- 2 decisions (price & production); stable macroeconomy; no random events.
- 4 decisions (price, production, advertising, plant size); changing macroeconomy; random events.