Iowa Electronic Markets (IEM) is an online futures market where contract payoffs are based on real-world events such as political outcomes (including the US Presidential election), companies' earnings per share (EPS), and stock price returns. It is run as a non-profit educational and research project by faculty at University of Iowa, Henry B. Tippie College of Business. Most of the markets use real money, although there is a free practice market. The site includes instructor resources, research papers based on their experience and a trader's manual.
Simulations in Principles of Microeconomics
Farmersi is a business game in which players manage their virtual farms in the Wild West - they grow crops, raise cattle and make investments. Individual games are 1-15 players at a time and last for 6-17 turns, with turns calculated every 4 or 8 minutes, 12 hours or 24hours. It is a basic simulation of business skills and how economies and markets function. Farmersi is entirely browser based and does not require the downloading of any software.
A set of interactive games that are played in the browser. The tutor selects a game and chooses the number of players, then is given unique logins to distribute to learners. One game - an airline pricing game - is played against the computer: in the rest, learners play against each other.
Ad-supported site providing a fantasy share-trading game, with supporting materials. Participants have a virtual 100,000 pounds to invest in shares which are priced using real data from the London Stock Exchange. It has already been used by thousands of learners in UK schools and universities.
A set of configurable, graphically appealing, online interactive games that work across laptops, iOS (Apple) and Android devices. Instructors can customise the games, or use default settings, and students join by entering a class code. The instructor gets a graphical analysis of outcomes immediately at the end of the session, for use in class discussion. The site has course guides that suggest how to sequence the games in different Economics courses, and each game has references to relevant papers. The site's apps can also be used to administer individual survey or assessment questions online.
Beat The Market Online contains simulation games and exercises designed to teach Principles or Introductory level Microeconomics as well as Managerial Economics. The goal is to maximize profits in one or more of the market structures including Perfect Competition, Monopoly, Monopolistic Competition or Oligopoly. Accompanying exercises cover a range of topics including market equilibrium, demand, elasticity, production, costs, and revenue maximization. The simulation games and exercises are all automatically graded and provided to the Instructor online with progress reports. An online consultant helps guide students. Students may compete against each other or computer managed firms as individuals or in teams. The simulation manages the entire process for the Instructor. Learning levels enables the Instructor to teach either principles or introductory economics by limiting the number of decisions to four or less. Data from the simulation, both cross sectional and time series, can be exported to Excel.