This works as a semester long simulation.
ECON 2040 Experimental Macroeconomics
Print CourseECON 2040 Experimental Macroeconomics
This course offers an alternative pedagogical approach to macroeconomics education involving an auction and exchange mechanism. Students purchase auction chips at the beginning of the semester, which is collected as tax revenue dollars for the class government overseen by a bank. These chips are utilized in making decisions that help students to examine the basic economic principles relevant to the resource utilization problems of the economy as a whole, including inflation, unemployment, output and economic growth. To address fiscal and monetary policy issues, the class votes on how our classes government should spend our community’s tax dollars, balances a simulated version of the national budget, and has the opportunity to visit and write upon the the New York Federal Reserve Bank.
William Patterson University