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.
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.