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The Effects of Fiscal and Monetary Policies on Economic Outcomes: A Classroom Activity Using Mankiw’s “Presidential Game”

Author

Listed:
  • Hilde Patron
  • William J. Smith

Abstract

We describe the use of a serious game in intermediate macroeconomics: Mankiw’s Presidential Game. Students in the classroom are assigned different roles as monetary and fiscal policy makers, while the online game is used to estimate the impact of their decisions. After the game, the instructor and students discuss the problems they experienced with the implementation of the different policies. Students are given a take-home assignment to complete the activity.

Suggested Citation

  • Hilde Patron & William J. Smith, 2013. "The Effects of Fiscal and Monetary Policies on Economic Outcomes: A Classroom Activity Using Mankiw’s “Presidential Game”," Journal for Economic Educators, Middle Tennessee State University, Business and Economic Research Center, vol. 13(1), pages 39-43, Fall.
    • Handle: RePEc:mts:jrnlee:v:13:y:2013:i:1:p:39-43
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    File URL: http://capone.mtsu.edu/jee/2013/6-MS313-pp39to43.pdf
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    More about this item

    Keywords

    short-run macroeconomics; classroom activity; learning; serious games;
    All these keywords.

    JEL classification:

    • A22 - General Economics and Teaching - - Economic Education and Teaching of Economics - - - Undergraduate
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook

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