Having fun
Macroeconomics game
Here's a way to practice some fundamental macroeconomics concepts such as:
- the Aggregate Supply and Aggregate Demand curves
- the conditions that affect the AS/AD curves
- how the modifications of the curves impact prices and inflation
Students gather in teams. Each of them have to draw the AS/AD curve of an economy. Teams choose countries. They each draw a simplified version of the AS/AD curve like this one:
I've created a list of factors that can impact the supply and demand curves on wheeldecide.com
After spinning one of the wheels, teams have to identify how the factor affects their curve.
For example, if unemployment increases, how does it affect the demand curve? Does the demand curve shift left or right?
Students then have to update their new AS/AD situation and how it impacts their prices.
In between each round, students can choose to invest in another country's products.
At the end of the game, we will see which team has products with the highest prices. Ultimately, this is a fun way to practice how prices evolve in relation to the factors that impacted supply and demand.