The Classroom as Policy Laboratory: Using a Classroom Simulation to Experience Macroeconomic Policy

32 Pages Posted: 8 Feb 2013

See all articles by Alan Green

Alan Green

Stetson University; Lander University

Date Written: Decembet 11, 2011

Abstract

This paper describes a classroom simulation of a simple economy. The simulation is similar in structure to classroom experiments, but it is carried out regularly throughout the term. This repetition allows for a less deterministic simulation and also lets students become comfortable in the active learning environment and experience multiple roles. The basic setup includes three markets: labor, food and non-food. Students run the entire economy, from hiring their classmates to producing goods and buying them. Students also elect a class congress, which allows them to experience government intervention in the economy. As simulation progresses, additional economic concepts and measurements are incorporated, including but not limited to GDP (real and nominal) unemployment, poverty, inequality, economic growth, investment, money supply and inflation.

Keywords: economic education, active learning, classroom experiment, simulation

JEL Classification: A22

Suggested Citation

Green, Alan, The Classroom as Policy Laboratory: Using a Classroom Simulation to Experience Macroeconomic Policy (Decembet 11, 2011). Available at SSRN: https://ssrn.com/abstract=2213334 or http://dx.doi.org/10.2139/ssrn.2213334

Alan Green (Contact Author)

Stetson University ( email )

Gulfport, FL 33707
United States

Lander University ( email )

Greenwood, SC 29649
United States

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