IDEAS home Printed from
   My bibliography  Save this article

Active and Cooperative Learning Using Web-Based Simulations


  • Stephen J. Schmidt


The author discusses the advantages of using computers and the World Wide Web in classroom simulation exercises. Using networked computers permits a richer simulation design, allows more complicated decisions by the students, and facilitates reporting results for later discussion. The Web is an ideal technology for such simulations because computers already have Web-capable browsers, with which students are familiar, and information on creating Web sites is readily available. The author discusses these points in the context of a sample simulation that teaches basic economic principles of trade, investment, and public goods in the context of American economic history.

Suggested Citation

  • Stephen J. Schmidt, 2003. "Active and Cooperative Learning Using Web-Based Simulations," The Journal of Economic Education, Taylor & Francis Journals, vol. 34(2), pages 151-167, January.
  • Handle: RePEc:taf:jeduce:v:34:y:2003:i:2:p:151-167
    DOI: 10.1080/00220480309595209

    Download full text from publisher

    File URL:
    Download Restriction: Access to full text is restricted to subscribers.

    File URL:
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    1. Peter Bossaerts & Charles Plott, 2004. "Basic Principles of Asset Pricing Theory: Evidence from Large-Scale Experimental Financial Markets," Review of Finance, European Finance Association, vol. 8(2), pages 135-169.
    2. Charles A. Holt & Susan K. Laury, 1997. "Classroom Games: Voluntary Provision of a Public Good," Journal of Economic Perspectives, American Economic Association, vol. 11(4), pages 209-215, Fall.
    Full references (including those not matched with items on IDEAS)


    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.

    Cited by:

    1. Snarr, Hal W. & Gold, Steven C., 2005. "The design and use of macroeconomics simulation using maple software: A pilot study," MPRA Paper 37061, University Library of Munich, Germany.
    2. Sucharita Ghosh & Francesco Renna, 2009. "Using Electronic Response Systems in Economics Classes," The Journal of Economic Education, Taylor & Francis Journals, vol. 40(4), pages 354-365, October.
    3. Alberto Isgut & Ganesan Ravishanker & Tanya Rosenblat, 2005. "The Basics of International Trade: A Classroom Experiment," Wesleyan Economics Working Papers 2005-013, Wesleyan University, Department of Economics.
    4. Lester Hadsell & Gerald T. Burke, 2007. "Computers, Learning Outcomes, and the Choices Facing Students," Eastern Economic Journal, Eastern Economic Association, vol. 33(1), pages 111-124, Winter.
    5. Jingyuan Fu & Meng Sun & Minhong Wang, 2022. "Simulation-Assisted Learning about a Complex Economic System: Impact on Low- and High-Achieving Students," Sustainability, MDPI, vol. 14(10), pages 1-17, May.
    6. Thomas Kemp & Tim Wunder, 2007. "Simulating inequality and social order in the classroom: A macroeconomic game," Review of Social Economy, Taylor & Francis Journals, vol. 65(4), pages 425-443.
    7. Tim Kochanski, 2012. "Toward Teaching Markets as Complex Systems: A Web Based Simulation Assignment Implemented in Netlogo," International Review of Economic Education, Economics Network, University of Bristol, vol. 11(2), pages 102-114.
    8. Peter Navarro, 2015. "How Economics Faculty Can Survive (and Perhaps Thrive) in a Brave New Online World," Journal of Economic Perspectives, American Economic Association, vol. 29(4), pages 155-176, Fall.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. H. Henry Cao & Bing Han & David Hirshleifer & Harold H. Zhang, 2011. "Fear of the Unknown: Familiarity and Economic Decisions," Review of Finance, European Finance Association, vol. 15(1), pages 173-206.
    2. Grigoriadis, Theocharis, 2017. "Religion, administration & public goods: Experimental evidence from Russia," Economic Modelling, Elsevier, vol. 66(C), pages 42-60.
    3. Cars Hommes & Anita Kopányi-Peuker & Joep Sonnemans, 2021. "Bubbles, crashes and information contagion in large-group asset market experiments," Experimental Economics, Springer;Economic Science Association, vol. 24(2), pages 414-433, June.
    4. Charles A. Holt & Monica Capra, 2000. "Classroom Games: A Prisoner's Dilemma," The Journal of Economic Education, Taylor & Francis Journals, vol. 31(3), pages 229-236, September.
    5. Neugebauer, Tibor & Shachat, Jason & Szymczak, Wiebke, 2023. "A test of the Modigliani-Miller theorem, dividend policy and algorithmic arbitrage in experimental asset markets," Journal of Banking & Finance, Elsevier, vol. 154(C).
    6. Carey Caginalp & Gunduz Caginalp, 2019. "Derivation of non-classical stochastic price dynamics equations," Papers 1908.01103,, revised Aug 2020.
    7. Jasmina Arifovic & Cars Hommes & Anita Kopányi-Peuker & Isabelle Salle, 2023. "Ten Isn't Large! Group Size and Coordination in a Large-Scale Experiment," American Economic Journal: Microeconomics, American Economic Association, vol. 15(1), pages 580-617, February.
    8. Cary Frydman & Nicholas Barberis & Colin Camerer & Peter Bossaerts & Antonio Rangel, 2012. "Using Neural Data to Test a Theory of Investor Behavior: An Application to Realization Utility," NBER Working Papers 18562, National Bureau of Economic Research, Inc.
    9. Siddiqi, Hammad, 2013. "Analogy Making, Option Prices, and Implied Volatility," MPRA Paper 48862, University Library of Munich, Germany.
    10. Jonathan Guest, 2015. "Reflections on ten years of using economics games and experiments in teaching," Cogent Economics & Finance, Taylor & Francis Journals, vol. 3(1), pages 1115619-111, December.
    11. Gerald Eisenkopf & Pascal A. Sulser, 2016. "Randomized controlled trial of teaching methods: Do classroom experiments improve economic education in high schools?," The Journal of Economic Education, Taylor & Francis Journals, vol. 47(3), pages 211-225, July.
    12. Te Bao & Edward Halim & Charles N. Noussair & Yohanes E. Riyanto, 2021. "Managerial incentives and stock price dynamics: an experimental approach," Experimental Economics, Springer;Economic Science Association, vol. 24(2), pages 617-648, June.
    13. Maertens, Annemie & Michelson, Hope & Nourani, Vesall, 2015. "Cooperative Behavior in Farmer Clubs: Experimental Evidence from Malawi," 2015 AAEA & WAEA Joint Annual Meeting, July 26-28, San Francisco, California 205551, Agricultural and Applied Economics Association.
    14. Olschewski, Sebastian & Diao, Linan & Rieskamp, Jörg, 2021. "Reinforcement learning about asset variability and correlation in repeated portfolio decisions," Journal of Behavioral and Experimental Finance, Elsevier, vol. 32(C).
    15. Charles A. Holt, 2011. "Teaching Experimental Economics: Reinforcing Paradigms and Bringing Research into the Undergraduate Classroom," Chapters, in: Gail M. Hoyt & KimMarie McGoldrick (ed.), International Handbook on Teaching and Learning Economics, chapter 47, Edward Elgar Publishing.
    16. Siddiqi, Hammad, 2010. "Coarse thinking, implied volatility, and the valuation of call and put options," MPRA Paper 23261, University Library of Munich, Germany.
    17. Alexis Belianin & Marco Novarese, 2005. "Trust, communication and equlibrium behaviour in public goods," Experimental 0506001, University Library of Munich, Germany.
    18. John Griffin, 2015. "Risk Premia and Knightian Uncertainty in an Experimental Market Featuring a Long-Lived Asset," Fordham Economics Discussion Paper Series dp2015-01, Fordham University, Department of Economics.
    19. Drehmann, Mathias & Oechssler, Jorg & Roider, Andreas, 2007. "Herding with and without payoff externalities -- an internet experiment," International Journal of Industrial Organization, Elsevier, vol. 25(2), pages 391-415, April.
    20. Peter Bossaerts & Charles Plott & William R. Zame, 2005. "Prices and Portfolio Choices in Financial Markets: Theory and Experiments," UCLA Economics Working Papers 840, UCLA Department of Economics.

    More about this item


    Access and download statistics


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:jeduce:v:34:y:2003:i:2:p:151-167. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.