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Educational Game on Cryptocurrency Investment: Using Microeconomic Decision-Making to Understand Macroeconomics Principles

Author

Listed:
  • J. Zhu

    (Yale University)

  • L. Zhang

    (Duke Kunshan University)

Abstract

Gamification is an effective strategy for motivating and engaging users, which is grounded in business, marketing, and management by designing games in nongame contexts. Gamifying education, which consists of the design and study of educational games, is an emerging trend. However, the existing classroom games for understanding macroeconomics have weak connections to the microfoundations of individual decision-making. We design an educational game on cryptocurrency investment for understanding macroeconomic concepts in microeconomic decisions. We contribute to the literature by designing game-based learning that engages students in understanding macroeconomics in incentivized individual investment decisions. Our game can be widely implemented in online, in-person, and hybrid classrooms. We also reflect on strategies for improving the user experience for future educational game implementations.

Suggested Citation

  • J. Zhu & L. Zhang, 2023. "Educational Game on Cryptocurrency Investment: Using Microeconomic Decision-Making to Understand Macroeconomics Principles," Eastern Economic Journal, Palgrave Macmillan;Eastern Economic Association, vol. 49(2), pages 262-272, April.
    • Handle: RePEc:pal:easeco:v:49:y:2023:i:2:d:10.1057_s41302-023-00240-7
    DOI: 10.1057/s41302-023-00240-7
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    References listed on IDEAS

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    Cited by:

    1. Tao Yan & Shengnan Li & Benjamin Kraner & Luyao Zhang & Claudio J. Tessone, 2024. "Analyzing Reward Dynamics and Decentralization in Ethereum 2.0: An Advanced Data Engineering Workflow and Comprehensive Datasets for Proof-of-Stake Incentives," Papers 2402.11170, arXiv.org.

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    More about this item

    Keywords

    Educational games; Active learning; Crypto-asset investment; Gamification; Rule and discretion;
    All these keywords.

    JEL classification:

    • A20 - General Economics and Teaching - - Economic Education and Teaching of Economics - - - General
    • C90 - Mathematical and Quantitative Methods - - Design of Experiments - - - General
    • D90 - Microeconomics - - Micro-Based Behavioral Economics - - - General
    • J - Labor and Demographic Economics
    • K - Law and Economics
    • K - Law and Economics
    • H - Public Economics

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