Year 12 Economics Masterclass

Can You Run the American Economy?
Using a macroeconomic model designed by Gregory Mankiw (professor of economics at Harvard), students will have a chance to run the US economy, making decisions on the important macro policy tools and watching their effect on unemployment, inflation and economic growth. The model also includes a popularity rating, so will you be more successful than Barak Obama; can you steer the economy to win the next election? We all know that ‘it’s the economy, stupid’.

After a brief introduction to macroeconomics, ystudents will work in groups on the model that simulates the US economy. At the end of the session, each group will report back on their results and take part in a general discussion on the problems of macroeconomic modelling and policy.