World Trade Economic Simulation
This game/simulation helps demonstrate concepts of global trade, currency, and the benefits of common markets/trade agreements like those which exist within EU countries.
Game Setup: Break class into groups of six and seven. In the groups, students have different amounts of money. Use settlers of Catan resources, with each person having different resources (i.e Canada has only lumber and wheat). Two members of the groups should have the equivalence of a free trade agreement between them (which reduces the cost of goods). Each country needs to finish with five of every resource. Also have three of the people represent the EU. They should have the same currency, and similar cost advantages to the free trade agreement. During the middle of the game, have the WTO or GATT come in and remove ‘tariffs’ countries have put up (reducing the cost of goods for one other country). After the game, have students reflect.
How to Play: Each turn, every player draws a card from their hidden resource pile (reserves). Moving clockwise, each player can choose to keep, discard, or sell the resource to another player. Players can have a maximum of five cards in their hand and make one transaction (keep, discard, or sell) per turn. A player may purchase no more than one card per turn.
To sell resources to other players, players must consult the resource price index. Different countries have different tariffs on trade, and different currency values. This results in different prices for different countries.
The first player (country) to collect one of every type of resource wins the game.
Full Game Instructions
Game Setup: Break class into groups of six and seven. In the groups, students have different amounts of money. Use settlers of Catan resources, with each person having different resources (i.e Canada has only lumber and wheat). Two members of the groups should have the equivalence of a free trade agreement between them (which reduces the cost of goods). Each country needs to finish with five of every resource. Also have three of the people represent the EU. They should have the same currency, and similar cost advantages to the free trade agreement. During the middle of the game, have the WTO or GATT come in and remove ‘tariffs’ countries have put up (reducing the cost of goods for one other country). After the game, have students reflect.
How to Play: Each turn, every player draws a card from their hidden resource pile (reserves). Moving clockwise, each player can choose to keep, discard, or sell the resource to another player. Players can have a maximum of five cards in their hand and make one transaction (keep, discard, or sell) per turn. A player may purchase no more than one card per turn.
To sell resources to other players, players must consult the resource price index. Different countries have different tariffs on trade, and different currency values. This results in different prices for different countries.
The first player (country) to collect one of every type of resource wins the game.
Full Game Instructions