Principles of Economics
OPTION 1 – Utilize as a capstone event
You can select games of different levels and market structures from simplest with just 2 decisions (price & production), to as many as 4 decisions (price, production, advertising & plant size. You can also adjust the external environment to make it less or more challenging.OPTION 2– Utilize a combination of simulation games and exercises
For simulation games students make decisions to maximize profits whereas for simulation exercises students observe what is happening in pre-set games and answer a series of multiple choice questions or problems to learn a specific topic such as demand, market equilibrium, price elasticity, production, costs and more. Both are automatically graded.