Objectives 

• Pedagogical objective: Hands-on exploration of
  • Economic concepts such as
    • Relative prices
    • Production possibility frontier
    • Opportunity cost
    • Absolute advantage
    • Comparative advantage
    • Gains from trade
    • General equilibrium
  • Relationship between individual decision-making and aggregate outcomes
  • Role of market prices in coordinating economic activity
• Experimental Objective: Study of decision-making in an artificial market economy