OPTION 2 - Utilize Throughout Course
MANAGERIAL ECONOMICS
Sample Course Outline
Schedule of Simulation Games and Exercises
Weeks |
Activities |
Game
Assignments |
Simulation Exercises |
1 | Students register online | View online tutorials | |
2 | Students learn basics of game | View guided tour & read Student Manual | * Introduction |
3 | Divide class into teams to prepare for Competition (students organize & develop strategies) | Practice Game**
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4 | Team competition begins | Team Decisions Quarter 1
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5 | Students estimate demand in simulation | Evaluate Demand Activity Team Decisions Quarter 2 |
Law of Demand |
6 | Students verify their demand model and adjust | Team Decisions Quarter 3 | Price Elasticity |
7 | Students estimate production costs in simulation | Evaluate Cost Activity
Team Decisions Quarter 4 |
Short-run Cost |
8 | Students verify their cost model and adjust | Team Decisions Quarter 5 | Long-run Cost |
9-10 | Students apply profit maximization rule | Profit Maximization Activity
Team Decisions Quarters 6 &7 |
Revenue Maximization |
11 | Students consider gaming theory and cartels | Collusion Activity
Team Decisions Quarter 8 |
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12 | Students experience gaming theory & cartels | Collusion Activity continued;
Team Decisions Quarter 9 – the end |
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13 | Teams meet to evaluate performance and learning lessons | Prepare Team Reports on game performance | |
14 | WRAP-UP: Team Presentations – Optional | Team Reports due |
* Introduction Simulation Exercises require no knowledge of economics. The objective is to learn about the reports/information within the game. Exercises are automatically graded but we recommend this exercise not be counted toward the student grade.
**Practice games can be graded or not graded, and assigned to the individual or team. We recommend individually played practice games set up to mirror the Team game or build up to it. (i.e. level 1 game with only two decisions, to a level 2 with four decisions). We also recommend the first practice game not be graded.