From: Scott Wolla (misterwolla@yahoo.com)
Date: Thu Jun 26 2003 - 13:37:50 EDT
Next message: Scott Wolla: "[Channel-talkeconomics] Video #3 - Government Intervention"
I found the simulations in this video to be very
meaningful and very practical for High School
Economics courses. I am currently teaching summer
school and tried the cookie sale simulation today - it
worked very well. The simulation makes the schedules
and curves less abstract for students I believe. I
also liked the idea of rewarding students who achieve
well in the games - it reinforces what we teach about
market economies, that there are incentives built into
the system to reward achievement and success. I found
the simulation very helpful in the discussion of the
role of prices and how price acts as a signal. A
surplus is a signal that prices may be too high - a
shortage is a signal of prices that are too low. I
also used it as a springboard for a discussion about
changes in supply and demand - for instance how would
the market situation change if the buyers were given
$2 instead of $3? How would the market change if
sellers were given 6 cookies each instead of 8? What
if the Surgeon General announced that properties in
chocolate chip cookies may cure baldness, cancer, and
prevent strokes? For each of these scenerios we also
changed the various graphs and found the new
equilibrium price. I also enjoyed the cartel
simulation - but am unsure if I would use it in my
classroom.
- Scott Wolla
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