Principles Of Microeconomics

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:

OPTION 1 - UTILIZE AS A CAPSTONE EVENT

Near end of the semester set up a practice game played individually followed by a simulation competition where student TEAMS compete against each other.
Students have a real opportunity to apply the economic theories and tools of analysis that they have learned all semester.

OPTION 2 - UTILIZE THROUGHOUT THE COURSE

Early in the semester assign simulation games and exercises; advantages are:
Students have the opportunity to apply economic theories and tools of analysis as they learn them in class.
Integrating simulation games with your course lectures and reading material is a very effective learning approach.

OPTION 3 - MIX OF OPTIONS 1 AND 2

For above options, you can select games of different levels:

SIMPLEST LEVEL

2 decisions (price & production); stable macroeconomy; no random events.

ADVANCED LEVEL

4 decisions (price, production, advertising, plant size); changing macroeconomy; random events.