Design an Economy Simulation
•This project is worth 100 points.
•It should be done as a PowerPoint or Prezi. If
these options are not available to you please
make other arrangements with me in advance.
•This must be done individually.
•Your grade will be determined by your
explanations for your answers to the following
questions. There is no right or wrong answer
just a failure to know what you’re talking about.
•My expectation is that you will explain the
rationale for your choices thoroughly.
Economic System
• What will be the economic system you
implement?
– Your answers to the three economic
questions.
– Be sure to be ideologically consistent
throughout.
Supply
• Will people be able to produce what they
want, when they want or will you place
restrictions on production?
– Are there certain products you wish to
encourage
– Are there products you want to discourage
– Are there products you want to ban
Demand
• Will people be able to purchase what they
want, when they want (depending on
cost)?
– Will you require certain purchases
– Will you restrict certain purchases
– Will you ban products
Price
• Will prices be a result of supply and
demand or will you place some price
controls (which products)?
Market Structures
• Will you restrict monopolies to ensure
competition?
• If so, how do you define a monopoly?
• Are there any monopolies that would be
acceptable?
Labor
• Will you allow labor unions? What
collective bargaining rights will unions
have?
• Are you going to have a minimum wage?
Money
• What will be the basis for your currency?
• Who will be in charge of producing and
monitoring your currency?
Banking
• What regulations will be placed on banks?
Taxes
• What is your philosophy regarding
taxation?
• What taxes will you charge?
Government Spending
• Will you have any social safety net
programs (social security, medicare,
TANF)?
• What other areas will be important for
government spending?
• Any restrictions on government spending?
Trade
• Completely free trade or trade restrictions?
Economic Performance
• What will you consider to be the key
indicators of your economy’s performance?
• How will they be calculated?
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Design an Economy Simulation