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Market and price formation

Economic experiment

Market and price formation

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Updated on 10.07.2023

Latest change:

10.07.2023

Revision of commentary for teachers and reorganisation of worksheets.

Entire change history

1–4 lessons
German, French, Italian
USS
KV
FVB
GYM
In-depth study using teacher’s notes, video tutorials or training recommended.

Overview

This unit covers basic topics such as the formation of market prices, equilibrium, supply and demand, and market efficiency.

  • The group game ‘Pitgame’ is based on an interactive presentation.
  • The game is played with the whole class (minimum of 12 students).
  • The associated teaching resources can be adapted to suit the level of the class.
  • A computer with internet access is required, as well as a projector.

Didactics

Commentary for teachers
Overview of the unit and information on learning goals, didactic approach and economic background as well as notes on a possible lesson plan.

Economic experiment

Interactive presentation

 Cockpit for teachers

Interactive presentation to support the teacher in the preparation, implementation and evaluation of the Pitgame. Technical requirements are an internet connection and an up-to-date browser (Chrome, Edge, Firefox, Safari).

Before you start the game, you have to select a commodity. After doing so, you can print the playing cards. If the commodity and number of players remain the same, the playing cards can be reused.
Cockpit for teachers

‘Introduction to Pitgame’ slides

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Set of slides as an introduction to Pitgame.
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Worksheet

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Worksheet 1

Exercises to evaluate the game. Suitable for all school types.
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Worksheet 2A

Exercises for near transfer. Suitable for all school types.
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Worksheet 2B

Optional supplement for FVB/GYM: Exercises for farther transfer.

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Sample answers Worksheet 2B

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Sample answers Worksheet 1

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Sample answers Worksheet 2A

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Video tutorials MobLab Online games and simulations
How to work with MobLab
MobLab Online simulation «Competitive Market Game / Market without tax»

Extras

Intro text
Short, colloquial text on key terms relating to markets and price formation. A summary at the end concisely outlines the core knowledge.

Additional information

Links

Price: The Language of Exchange

IMF. This more advanced article discusses how prices are formed under different scenarios.

www.imf.org

Videos

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How does the stockmarket work? (en)

Credits – Market and price formation

Concept:
Iconomix, based on Chamberlin, E. H. (1948). An experimental imperfect market. Journal of political economy, 56(2), 95-108.

Programming of web application:
Ergon Informatik AG, Zurich

Consultants:
Prof. Dr. Yvan Lengwiler, University of Basel; Dr. Rina Rosenblatt-Wisch, SNB

Educational consulting:
Prof. Dr. Dieter Euler, University of St. Gallen; Michèle Collenberg, University of St. Gallen

Translation & proofreading:
SNB Language Services

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