Beat the Market Game

Abstract

"Beat the Market is a simplified online business simulation game that is designed to help students learn or reinforce basic business economic principles. In the game participants are placed in the role of a managing a firm under different market environments including: perfect competition, monopoly, monopolistic competition and oligopoly. The game provides the opportunity to observe how different markets function in a dynamic setting and how to apply economic tools of analysis to try to beat the market under different environments. Student performance is automatically graded by the program from 0 to 100%. In addition to measuring game performance, there is also a set of optional multiple choice questions associated with game exercises that evaluate the student’s understanding of basic economic concepts derived from the game such as: law of demand, price elasticity, production and cost relationship, economies of scale, marginal analysis, revenue and profit maximization. (For more information see: www.goldsimulations.com) "