Economics (82) This project entails the design, development, dissemination, and assessment of "SimEcon," a CD-ROM package of 16 interactive economic computer simulation modules for use with a standard economics text in principles of economics courses. SimEcon provides students with a set of topic-specific modules in which they are expected to put the introductory economic course material to work and "learn by doing." Each module attempts to capture the complexities of an aspect of the economic system that cannot easily be conveyed with more static teaching tools, i.e. blackboards or workbooks. Each module allows the student to make decisions about different economic variables, view the results of their actions, and improve their decisions based on their results. The project's primary objective is to add value to economic education by producing a technological tool, SimEcon, that will allow students to develop deep cognitive learning, problem-solving, and analytical skills based on active, dynamic involvement with the lessons contained in each economic simulation. The second goal is to evaluate the impact of using the modules in a variety of learning environments. The modules may be used as the basis for class activity or lab sessions, writing assignments, distance learning, on-line courses, and outcomes assessments. The third objective is to broadly demonstrate and distribute SimEcon to instructors who will use the modules in their principles courses. We are currently working with several instructors at regional community colleges, and 4-year colleges and universities, and will actively recruit additional instructors to beta test and use SimEcon throughout the project period. Module topics include: economic growth, market analysis, benefit-cost analysis, open and closed macroeconomics, utility maximization, cost minimization, competitive markets, monopoly, oligopoly, labor markets, exchange rates, income distribution, trade negotiations, externalities, and banking. Modules contain student instructions, term definition pop-up windows, tabular quantitative results and/or graphical output displays. The breadth of the package allows instructors to select a subset of modules that is suitable for their course coverage, student audience, and available time. The modules enable students to learn by making decisions in repetitive economic experiments, evaluate the results of their choices, revise decisions over designated time periods, and write conclusions based on their outcomes. The project is a collaboration between professors at two universities. Both professors have used 4 modules in their courses (E-Growth, Markets, DrugWars, and Macro1) and have revised them based on trial use.
