One unique feature of Economics is a student company exercise that gives students the opportunity to operate their own business. Students conduct market research, raise capital through the sale of stock, produce and sell a product, and maintain company records. The Student Company, however, is more than an exercise in operating a firm; it is an opportunity to teach leadership, problem solving, and economic concepts through experience. For example, at the same time that students read about supply and demand in their textbook and Study Guide, they are able to use data collected from their market to plot a demand curve for their product.

MESE

Management and Economic Simulation Exercise

MESE is a computer simulation that puts in opposition two to eight companies of students as they manufacture and market hypothetical EchoPens. EchoPens are computerized pens capable of remembering and reproducing documents they have written in the past. Students are challenged to outperform the competition in terms of profit, sales, and market share. In addition, the data generated by the program give the participants many opportunities to practice reading and interpreting financial reports.

The competition motivates students to think about the fundamentals of production, marketing, and finance to relate them to the economic principles and economic institutions they have been studying. Over the course of the simulation, students will set a price for their pens, determine production levels, plan marketing and research-and-development budgets, and invest in plant and equipment. These decisions contribute to making MESE an exciting competition and a powerful teaching tool.

The MESE student workbook is found in the Economics Study Guide. It contains an overview of the simulation, an explanation of the various financial reports, descriptions of each of the five decisions, worksheets for each decision, and a detailed glossary of terms.

MESE documentation is provided on a diskette that is accompanied by technical documentation that will explain basic software operation. The Economics Guide for Teachers and Consultants contains a section with detailed tips for using MESE in the classroom and information about the economic theory underlying the simulation.

Macroland

This challenging computer simulation introduces Economics students to the mythical republic of Macroland. Students work as three- to five-member policy teams of economic advisers. They determine tax rates, levels of government spending, and monetary policy. The computer then reports how well their decisions contribute to economic prosperity, high employment, and price stability.

Through these experiments in forming fiscal and monetary policy, students learn who is responsible for making decisions that influence the nation’s economic health. They also learn what options policy makers have and how their decisions may influence the pace of economic activity, the rate of inflation, credit costs, and the tax burden.