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Tax Game part of Pedagogy in Action:Library:Teaching with Simulations:Examples
The link between a set of taxes and income distribution is an important, but difficult, concept taught in economics principles courses. The Tax Game simulation requires a student to set tax rates for an income tax, a property tax, a wealth tax, a payroll tax, a corporate income tax, a sales tax,and an excise tax. The student can choose any rates he or she wishes, but must achieve a given revenue target.

Subject: Economics

Ricardian Explorer part of Pedagogy in Action:Library:Teaching with Simulations:Examples
Ricardian Explorer, implemented on the internet, simulates a Ricardian trade model with linear production technology and a CES utility function. The typical simulation has two countries and two goods. While ...

Subject: Economics

MarketSim part of Pedagogy in Action:Library:Teaching with Simulations:Examples
MarketSim helps students understand the functioning of markets by having them become consumers and producers in a simulated economy. There are two versions, both implemented over the internet. Jeremy's market ...

Subject: Economics

General Equilibrium Simulation for Microeconomics part of Pedagogy in Action:Library:Teaching with Simulations:Examples
Teaching general equilibrium analysis to students is challenging. General equilibrium models are typically accessible to only a small handful of mathematically well prepared students. Yet the growing significance ...

Subject: Economics

Specialization and Division of Labor part of Pedagogy in Action:Library:Teaching with Simulations:Examples
This example engages students in a simple simulation of specialization and division of labor. All that is needed are staplers and some paper.

Subject: Economics

Dynamic Integrated Climate Change Model (DICE) part of Pedagogy in Action:Library:Teaching with Simulations:Examples
The Dynamic Integrated Climate Change (DICE) model assumes a single world producer must chose levels for three simultaneously determined variables: current consumption, investment, and greenhouse gases reduction. ...

Subject: Economics

Basic Monte Carlo Simulation for Beginning Econometrics part of Pedagogy in Action:Library:Teaching with Simulations:Examples
Beginning econometrics students often have an uneven preparation in statistics. The simulation gives students a clearer understanding of the behavior of OLS estimators.

Subject: Economics

Stata Monte Carlo Simulation for Heteroskedasticity part of Pedagogy in Action:Library:Teaching with Simulations:Examples
This is a simulation for a beginning econometrics course that shows students how heteroskedasticity biases an estimator and why the power of a statistical text is important.

Subject: Economics

Budget Explorer part of Pedagogy in Action:Library:Teaching with Simulations:Examples
Students often come to a principles course in economics with knowledge that is not correct. This example asks students to guess the percent of federal expenditures for different spending categories. They are then ...

Subject: Economics

Open Outcry Market part of Pedagogy in Action:Library:Teaching with Simulations:Examples
This example is an in-class market simulation conducted with paper cards assigning each student a buyer or seller role and a reservation price. This example is appropriate for both upper and lower division ...

Subject: Economics