Decisions and Macroeconomics: Development and Implementation of a Simulation Game
For many students macroeconomics is very abstract; it is difficult for them to imagine that the theories are fundamentally about the coordination of human decisions. The author developed a simulation game called Steer the Economy that creates the possibility for students to make the decisions of the firms that are implicit in macroeconomic models. The game consists of a computer network where players manage their own company for the equivalent of 150 months. The players make decisions about prices, wages, labor demand, and investment. All players together are the complete production sector of the economy. Consumption, government, and the Central Bank are incorporated in the computer model and can be manipulated by the game leader. The interaction between the player decisions generates fluctuations in, for example, unemployment, inflation, real wages, and investment. Players can increase the profits of their companies in the game by analyzing micro- and macroeconomic dynamics in the game economy. A system of feedback is provided to generate the necessary skills.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 36 (2005)
Issue (Month): 2 (April)
|Contact details of provider:|| Web page: http://www.tandfonline.com/VECE20|
|Order Information:||Web: http://www.tandfonline.com/pricing/journal/VECE20|
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Hans Gremmen & Jan Potters, 1997.
"Assessing the Efficacy of Gaming in Economic Education,"
The Journal of Economic Education,
Taylor & Francis Journals, vol. 28(4), pages 291-303, December.
- Gremmen, H.J.F.M. & Potters, J.J.M., 1996. "Assessing the Efficacy of Gaming in Economics Education," Discussion Paper 1996-05, Tilburg University, Center for Economic Research.
- Gremmen, H.J.F.M. & Potters, J.J.M., 1997. "Assessing the efficacy of gaming in economics education," Other publications TiSEM 24235ea7-f57e-4408-ab48-7, Tilburg University, School of Economics and Management.
- Michael H. Truscott & Hemant Rustogi & Corinne B. Young, 2000. "Enhancing the Macroeconomics Course: An Experiential Learning Approach," The Journal of Economic Education, Taylor & Francis Journals, vol. 31(1), pages 60-65, December.
- Jacob K. Goeree & Charles A. Holt, 1999. "Employment and Prices in a Simple Macroeconomy," Southern Economic Journal, Southern Economic Association, vol. 65(3), pages 637-647, January.
- Joseph Santos, 2002. "Developing and Implementing an Internet-Based Financial System Simulation Game," The Journal of Economic Education, Taylor & Francis Journals, vol. 33(1), pages 31-40, January.
When requesting a correction, please mention this item's handle: RePEc:taf:jeduce:v:36:y:2005:i:2:p:139-144. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Michael McNulty)
If references are entirely missing, you can add them using this form.