Collaborative teaching pedagogy used in conjunction with a simulation economy

In order to enhance the interest and motivation for students to learn introductory economics, the authors have initiated the creation of a simulation game in which the students are the actors in a self-contained class economy. The students are placed in competitive groups in which they have the role of a firm that produces a good and a household that consumes products. A collaborative learning pedagogy with the simulation was also instituted. Using collected data that measure the impact of this alternative approach, compared to a class taught without the collaborative exercises or the simulation game, it was found that students enjoyed the simulation game and found it worthwhile. Overall, the simulation game and this new approach to teaching introductory economics did not have a negative impact on academic achievement.