Developing and Implementing an Internet-Based Financial System Simulation Game

Abstract

Thanks to the Internet and server-side technology such as Active Server Pages (ASP), faculty can develop, implement, and share interactive pedagogy easily and inexpensively. The Financial System Simulator (FSS) is an example of an interactive game that the author has developed. The FSS is an Internet-based, interactive teaching aid that introduces undergraduate students to the domestic and international consequences of monetary policy. Although simulators are common among computer-aided interactive learning devices in today's undergraduate economics curricula, the FSS is different from the others because it allows students, who represent nations, to interact with each other rather than with a computer. The exercise provides users with real-time outcomes based on their decisions, as well as the decisions of other students. According to student surveys, the game helped students understand monetary policy and kept students motivated and interested.

Key Words:

• ASP technology
• banking
• Federal Reserve
• Internet
• monetary policy
• simulator
• A2

Additional information

Notes on contributors

Joseph Santos

Joseph Santos is an assistant professor of economics at South Dakota State University (e-mail: [email protected]). The author would like to thank Carol Cumber, Michael Keller, three anonymous referees, and the participants of a discussion forum on “Using the Internet for Teaching Economics” at the 2000 Eastern Economics Association meeting. Financial support was provided by the Governor's Office of the State of South Dakota.