Market Mystery
Round 1:
The Economic Simulation Game – “Market Mastery”
Objective: To test participants’ understanding of market dynamics, supply and demand, and decision-making in a simulated economic environment.
Description:
– Participants will be given a scenario involving the production and sale of a specific product. – Each team will act as a business, making decisions regarding production, pricing, and marketing strategies.
– Teams will compete in a virtual marketplace with fluctuating demand and external economic factors.
– They will be required to maximise profit and adapt to changing market conditions.
Delegate cap:3
Round 2:
The Economic Policy Debate – “Economic Governance Challenge”
Objective: To evaluate participants’ knowledge of economic policies and their ability to argue for or against a specific economic policy.
Description:
– Participants will be provided with a real-world economic issue, such as trade policies, taxation, or government spending.
– Teams will be divided into “pro” and “con” sides and given time to research and prepare their arguments.
– Each team will present their case and counter-arguments in a structured debate format. – They will be evaluated on the quality of their arguments and the depth of their economic analysis.
Delegate cap: 3
Round 3:
The Economic Case Study Analysis – “Business Decision Challenge”
Objective: To assess participants’ ability to analyse and recommend solutions for a real-world economic problem faced by a hypothetical business.
Description:
– Teams will receive a case study detailing the challenges and economic dilemmas faced by a business.
– They will have a set amount of time to analyse the situation, considering various economic concepts and principles.
– Each team will present their findings and recommendations to a panel of judges.
– The judges will assess the practicality and effectiveness of the proposed solutions.
Judging Criteria:
- Understanding of Economic Concepts and Theories 2. Application of Economics to Real-World Scenarios 3. Quality of Analysis and Problem-Solving
- Presentation Skills and Communication
Delegate cap:3