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**

 
 4 Team competition begins  Team Decisions Quarter 1

 
 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
12 Students experience gaming theory & cartels Collusion Activity continued;

Team Decisions Quarter 9 – the end
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.