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Simulating inequality and social order in the classroom: A macroeconomic game

Author

Listed:
  • Thomas Kemp
  • Tim Wunder

Abstract

Actual economic activity often is too large or abstract for students of economics to understand. It has been the experience of the authors that when the economy is explained in terms of an autonomous classroom, students better understand that the economy is about the social process of determining what will be produced, how it will be produced, and for whom it will be produced. In the most basic sense the purpose of the simulation describe herein is to provide the student with personal experience of the market process.

Suggested Citation

  • 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.
    • Handle: RePEc:taf:rsocec:v:65:y:2007:i:4:p:425-443
    DOI: 10.1080/00346760600863189
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    References listed on IDEAS

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    1. 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.
    2. Nancy Folbre & Robert Goodin, 2004. "Revealing Altruism," Review of Social Economy, Taylor & Francis Journals, vol. 62(1), pages 1-25.
    3. Jacob K. Goeree & Charles A. Holt, 1999. "Employment and Prices in a Simple Macroeconomy," Southern Economic Journal, John Wiley & Sons, vol. 65(3), pages 637-647, January.
    4. Bradley J. Ruffle, 2003. "Competitive Equilibrium and Classroom Pit Markets," The Journal of Economic Education, Taylor & Francis Journals, vol. 34(2), pages 123-137, January.
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