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 ...

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.

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.

Population Simulator part of Pedagogy in Action:Library:Teaching with Simulations:Examples
This simulation uses United Nations world population projections to simulate future population trends for the whole world or of individual countries. Students will have an opportunity to examine population trends and make predictions.

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. ...

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.

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 ...

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.

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.

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 ...