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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

Sports Franchise Simulation part of Pedagogy in Action:Library:Teaching with Simulations:Examples
A Sports Franchise Simulation, modeled after the card game War, lets students run their own sports franchise. While the goal of the simulation is to teach students several microeconomics concepts taught in a ...

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

Fair Model part of Pedagogy in Action:Library:Teaching with Simulations:Examples
The Fair model web site includes a freely available United States macroeconomic econometric model and a multicounty econometric model. The models run on the Windows OS. Instructors can use the models to teach ...

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

Zero-Intelligence Trading in Markets part of Pedagogy in Action:Library:Teaching with Simulations:Examples
A Netlogo implementation of Gode and Sunders (1993) ZI-Trading model. Students explore whether efficiency in the market is determined by the market or by human rationality.

Subject: Economics

Iterated Prisoner's Dilemma part of Pedagogy in Action:Library:Teaching with Simulations:Examples
A lab exercise using a Netlogo simulation to explore alternative strategies in an iterated prisoner's dilemma mode.

Using Excel Spreadsheets to Explore Profit Maximization part of Pedagogy in Action:Library:Teaching with Simulations:Examples
This exercise uses a simple Excel spreadsheet to explore the concept of profit-maximization for a perfectly competitive firm.