[1] A properly built simulation game used to teach or learn economics would closely follow the assumptions and rules of the theoretical models within this discipline.
Both computerized and non-computer based simulation and games show significant levels of growth in education (see Lean, Moizer, Towler, and Abbey, 2006;[5] Dobbins, Boehlje, Erickson and Taylor, 1995;[6] Gentry, 1990;[7]).
[11] Consistent with the theoretical model of monopolistic competition (see Baye, 2009),[10] student participants would observe and experience that their pricing decisions are controlled by the market.
This experience provides students an opportunity to learn (as a supplement to the lecture and readings) the economic messages of monopolistic competition.
This 30-minute simulation brings economic policy-making to life by allowing students to make monetary and fiscal policy decisions and consider their impact on the economy of a fictional country.
Students manage the economy through a 7-year business cycle in an effort to maximize the approval rating from their population.
At a deeper level, students develop critical thinking skills and learn about economic modeling and system dynamics.