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Design Document Perfect Competition Embedded assignments Turn-based, length determined by Game Master Multiplayer, 5-player minimum

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Perfect Competition Starting Point: Empty Factory 1 million dollars No advantages: No sense of geography or proximity Everyone has access to the same information

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On Each Turn Buy the proper equipment in order to enter a specific manufacturing field Set wages Hire workers Set prices Negotiate contracts with suppliers and buyers Research new technologies

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Embed Assignments in Gameplay Old: Take fictional data made up by the professor, draw graphs, and answer essay questions. New: Receive an in-game news bulletin, draw graphs and interpret data, use the answer to improve your decisions in the next turn.

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Feedback Loop Old: Students are graded on whether they get the right answer New: Comparison with other players, and comparison with a perfect player

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Topics We Will Teach Supply and demand Opportunity cost Price elasticity Surplus Substitute products Fixed cost, variable cost, total cost, average cost Equilibrium

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Consumer Theory Producer Theory Equilibrium Theory Oligopic Markets Game Theory

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For instance: Price of TiresNumber of Tires People Want to Buy Number of Tires People Want to Sell $100110,00010,000 $20090,00040,000 $30060,00080,000 $40020,000150,000 Equilibrium Point Consumer Surplus Producer Surplus

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Questions?