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ERIC Number: ED152665
Record Type: RIE
Publication Date: 1977-Apr
Pages: 21
Abstractor: N/A
Reference Count: 0
ISBN: N/A
ISSN: N/A
Teaching Experience with a Housing and Land Speculation Game.
Billings, R. Bruce; Agthe, Donald E.
The Housing and Land Speculation Game provides students in college microeconomics courses with an opportunity to learn about market adjustment toward equilibrium and investment strategy. Students are divided into a land tax only group and a land and property tax group. They analyze the market situation and determine game strategy in accordance with data generated from a classroom housing and land market. The setting is a residential area that contains houses and vacant land. Each student receives an initial endowment of land and houses along with a debt and net worth position. Students change position by demolishing, building, buying, and selling. Sources of income to student landlords include rent, gain in land value, and interest on bank deposits. Costs to student landlords include property tax, capital losses, and depreciation. The winning student is the one with the highest net worth at the conclusion of the game. Response among students who have participated in the game through intermediate microeconomics courses has been generally favorable. Shortcomings of the game include hesitation of students to break away from an arbitrary initial land value and a tendency to ignore data generated in the game. The conclusion is that the game has the potential of helping students increase their understanding of issues related to buying and selling property. Suggestions for alleviating the game's shortcomings are offered. The computer program and data input are available from the author. (Author/DB)
Computer program and data input available from R. Bruce Billings, Department of Economics, University of Arizona, Tucson, Arizona 85721 (free)
Publication Type: Books
Education Level: N/A
Audience: N/A
Language: N/A
Sponsor: N/A
Authoring Institution: N/A