iconomix

Swiss National Bank

Market and price formation I

The topic of this module is the formation of prices, on markets in general and on well-organised and transparent markets in particular. Students experience at first hand how markets function, by means of a strategy game in which they play traders on a commodities exchange.

 

 

Commentary for teachers

Module information


Documents

  • Worksheet 1(64 KB)http://www.iconomix.ch/fileadmin/docs/module/en/m03a_worksheet1.pdf
  • Worksheet 2(90 KB)http://www.iconomix.ch/fileadmin/docs/module/en/m03a_worksheet2.pdf
  • Knowledge sheet(103 KB)http://www.iconomix.ch/fileadmin/docs/module/en/m03a_knowledge_sheet.pdf
  • Knowledge test(87 KB)http://www.iconomix.ch/fileadmin/docs/module/en/m03a_knowledge_test.pdf
  • Advanced question(48 KB)http://www.iconomix.ch/fileadmin/docs/module/en/m03a_advanced_question.pdf
  • Sample answers(187 KB)http://www.iconomix.ch/fileadmin/docs/module/en/m03a_sample_answers.pdf

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Additional information

  • Background text for Pitgame 1(116 KB)http://www.iconomix.ch/fileadmin/docs/module/en/m03a_background_text.pdf
    This short text from Yvan Lengwiler provides some background information on Pitgame 1.

Enter the iconomix award

  • Challenge questionhttp://www.iconomix.ch/en/award/category-1/challenge-questions/m03a-market-and-price-formation/

Pitgame 1

Start Pitgame 1

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In the cockpit, you can generate a new game and run Pitgame 1.

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Updated

21. October 2009

Level

Intermediate

Keywords
Commodities exchange, Competition, Consumer profit, Demand, Efficient allocation, Equilibrium, Equilibrium price, Market economy, Market efficiency, Market price, Markets, Perfect competition, Price formation, Producer profit, Production costs, Stock exchange, Supply, Trading profits, Willingness to pay

Key

Commentary for teachers

The commentary for teachers provides an overview of the module.

The first page summarises the most important information (topic, content, learning objectives, etc.).

An outline of how to work with the module is presented in chapter 2.

Chapter 3 recommends additional literature on the topic.

Documents

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Challenge question

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Sample answers

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Demos

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