Information flow is one of the three main flows of supply chains. It is an abstract concept that can be challenging for students to grasp in its entirety. This article describes a role-playing game for teaching the topic of information flow in an undergraduate supply chain management course. The game allows students to simulate receiving and…

The authors present a version of the Diamond-Mortensen-Pissarides model of unemployment that is accessible to undergraduates and preserve the dynamic structure of the original model. The model is solvable in closed form using basic algebra and admits a graphical representation useful for illustrating a variety of comparative statics. They show how…

This paper presents an example of an approach to teaching financial theory at the college and post-graduate levels that I call "teaching backwards". In the more traditional approach, instructors begin by explaining financial theory, then proceed to give examples of the way this theory can be applied to a business problem, structuring…

Due to the changing landscape of K-12 education in the United States, particularly issues arising from funding, safety, accessibility, and standardization, the frequency at which teachers utilize traditional field trips has diminished over the last few decades. Thanks to continued advances in communicative technology, however, teachers are able to…

In this article, the author discusses how graphical simulation models created using STELLA software can be used to present natural resource systems in an intuitive way in undergraduate natural resource economics classes based on his experiences at a leading research university, a state university, and a leading liberal arts college in the United…

When deciding whether to get on the freeway during rush hour, did you ever stop to consider that if you did so, you would slow everybody ELSE down? When we ask our students that question, they typically laugh--their only consideration is how long their own trip will take. When a decision maker does not account for all the costs or benefits…

General equilibrium models now play important roles in many fields of economics including tax policy, environmental regulation, international trade, and economic development. The intermediate microeconomics classroom has not kept pace with these trends, however. Microeconomics textbooks primarily focus on the insights that can be drawn from the…

NutrientNet is an Internet-based environment in which a class can simulate a market-based approach for improving water quality. In NutrientNet, each student receives a role as either a point source or a nonpoint source polluter, and then the participants are allowed to trade water quality credits to cost-effectively reduce pollution in a…

The authors present a constructivist approach for teaching game theory, on the basis, in part, of Axelrod's research approach. Using the Axelrod tournament multi-user system (ATMUS) software, students create strategies for a repeated prisoner's dilemma (RPD). Later, these strategies are matched with those of their classmates' in a classroom…

Computer simulation of the Alonso household location model can enrich the intermediate microeconomics course. The model includes decisions on location, land space, and other goods and is a valuable complement to the usual textbook model of household consumption. It has three decision variables, one of which is a "bad," and one good's price is a…

Investigates the growing popularity of computerized economic modeling as a computer-assisted instructional aid and the associated educational benefits. Provides an overview of current modeling, simulation, and econometrics programs and attempts to identify trends in computer-assisted instruction in economics. (Author/GEA)

Describes Buffland--a macro-economic computer simulation that was created for and used as part of a larger program called Free Enterprise Week, which is sponsored by the center for economic education at Nicholls State University (Louisiana) each summer. Discusses program objectives, theoretical foundation, program basics, and tools used to control…

The author presents a computer game that puts the player in the role of a central bank governor. The game is a stochastic simulation of a standard reduced form macro model, and the user interacts with this simulation by manipulating the interest rate. The problem the player faces is in many ways quite realistic--just as a real monetary authority,…

The authors provide a version of a double-auction market simulation designed for classes too large for most computer labs to accommodate in one sitting. Instead, students play the game from remote computers, wherever they may be and at any time during a given time period specified by the instructor. When the window of time expires, students can…

The primary purpose of this paper is to examine negative findings regarding the use of simulations in economics education and to make suggestions for effective use of computerized economic simulations. The first part of the paper reviews experiential learning theory and previous economics education studies by Wentworth and Lewis (1972); Chismar,…