Masters of the Economy: A Game for Review and Understanding of Fiscal and Monetary Policy

<p dir="ltr">In this classroom game, pairs or teams of students assume the role of “Masters of the Economy,” or directors of fiscal and monetary policy. The game has three versions; versions progress in complexity. The first version provides a review of the basics of monetary and fiscal policy tools. The second version introduces uncertainty: actual economic performance may not match the targets set by the team. The third version introduces the problem of coordination between monetary and fiscal policy authorities.</p><p dir="ltr">Published as Game 154 of Games Economists Play (http://www.marietta.edu/~delemeeg/games/games151-160), 2004.</p>