Abstract
This paper describes a classroom economic simulation. The simulation is similar to classroom experiments but is repeated, which allows for a less deterministic structure and gives students time to experience multiple roles. Students run the economy, from hiring their classmates to producing goods and buying them. Students also elect a class congress, which allows them to choose policies and experience the effects. As the simulation progresses, additional economic concepts and measurements are incorporated, including but not limited to GDP (real and nominal) unemployment, poverty, inequality, economic growth, investment, money supply, inflation and macroeconomic shocks.
Recommended Citation
(2026)
"The Classroom as Policy Laboratory: Using a Classroom Simulation to Experience Macroeconomic Policy,"
Journal of Economics and Finance Education: Vol. 13:
Iss.
1, Article 8.
Available at:
https://scholarship.rollins.edu/jefe/vol13/iss1/8
