Microeconomics Simulation

• Set prices, choose output levels, and allocate production capacity

• Analyze market signals, competitor actions, and customer demand trends

• Adjust strategies based on cost changes, government intervention, or shocks

• Observe real-time feedback through market equilibrium, profit/loss, and customer share

• Reflect on trade-offs between pricing power, cost efficiency, and market share

• Debate or present decisions in response to policy changes or regulatory proposals

Students gain hands-on understanding of how economic theory operates in dynamic settings. They will learn to:

• Apply microeconomic models in realistic, evolving markets

• Anticipate how shifts in supply and demand affect equilibrium outcomes

• Identify optimal pricing and production strategies under different market structures

• Understand how regulation and taxation influence firm behavior and consumer outcomes

• Experience competition, scarcity, and trade-offs firsthand

• Use economic reasoning to justify decisions and interpret market outcomes

• Do students need prior economics knowledge? No prior coursework is required. The simulation is beginner-friendly and includes built-in guidance for all economic concepts used.

• Can the simulation be used in non-economics courses? Yes. It fits well in general business, policy, or strategy courses looking to introduce economic reasoning and market behavior.

• How long does the simulation take? It can run in a 2-hour session or be spread across multiple class periods with changing market conditions and policy interventions.

• Is it best used individually or in teams? Both formats work well. Teams often enhance peer learning and strategic debate.

• How is performance assessed? Students are evaluated on profitability, pricing strategy, economic reasoning, and ability to respond to market and policy shifts.