Examples
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Economics
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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.
EconModel part of Pedagogy in Action:Library:Teaching with Simulations:Examples
This site contains 21 modular, easy to use economic models, that are appropriate for class assignments or in-class demonstrations. Students can simulate all the standard models taught in most economics courses. ...
Economics and the Tragedy of the Commons part of Pedagogy in Action:Library:Teaching with Simulations:Examples
In both macroeconomics and microeconomics principles courses, economists teach the virtue of markets as an allocative mechanism. But markets sometimes fail. This example allows students to simulate the market ...
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 ...
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 ...