Participatory Economics Classroom Simulation

Authors

  • Justin Jarvis University of Arizona

DOI:

https://doi.org/10.33423/jhetp.v24i2.6797

Keywords:

higher education, classroom experiment, undergraduate education, participatory economics, heterodox approaches

Abstract

In this paper, I describe how to conduct a classroom simulation based upon a Participatory Economy. A Participatory Economy is a potential third option for organizing economic activity, one that is neither market based nor centrally planned. Students will take part in an iterative planning procedure as they make production and consumption decisions collectively, inside a one-person-one-vote paradigm. The process is time consuming, but with the direction of this article can be completed in a 50-minute class period. I include student handouts and discussion questions in the appendices. This exercise is valuable not only because it helps students imagine other alternatives to economic organization, but also because it makes explicit the great deal of coordination achieved automatically in a market that is fully cleared. Students usually come away with a deeper understanding of both a participatory economy and a market economy.

References

Chamberlin, E.H. (1948, April). An Experimental Imperfect Market. Journal of Political Economy, 56, 95–108.

Hahnel, R., & Albert, M. (1991). The Political Economy of Participatory Economics. Princeton University Press.

Hahnel, R., & Wright, E.O. (2014). Alternatives to Capitalism: Proposals for a Democratic Economy. New Left Project.

Holt, C.A. (1996, Winter). Classroom Games: Trading in a Pit Market. Journal of Economic Perspectives, 10(1), 193–203.

Science Education Resource Center. (n.d.). Classroom Experiments in Economics. Retrieved November 1, 2018, from https://serc.carleton.edu/sp/library/experiments/introecon.html

Wells, D.A. (1991, Summer). Laboratory Experiments for Undergraduate Instruction in Economics. Journal of Economic Education, 22, 293–300.

Downloads

Published

2024-02-12

How to Cite

Jarvis, J. (2024). Participatory Economics Classroom Simulation. Journal of Higher Education Theory and Practice, 24(2). https://doi.org/10.33423/jhetp.v24i2.6797

Issue

Section

Articles