Economics · Microeconomics

Price Controls: Ceilings, Floors and Unintended Consequences

Play the government regulator of Millhaven. Set rent ceilings, wage floors and minimum unit prices over five rounds; observe shortages, surpluses, black markets and deadweight loss; and recommend a final policy mix. Aligned with AQA 7136 §3.1.5, Edexcel 9EC0 Theme 1.4, OCR H460 §2.6 and CIE 9708 §2.5.

5 rounds MBA & Masters English, Español
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Preview

Who it is for

An intermediate simulation for participants who already know the core concepts of the subject, designed for master's and MBA programmes.

How a session runs

  1. The instructor creates a session from the Eureka dashboard and invites the participants.
  2. Participants play 5 rounds. In each one they submit their decisions and the simulation calculates the results.
  3. The simulation can be run in English, Español.
  4. The instructor follows each participant's progress and results from the dashboard, and uses the class results for the debrief.

Decisions participants make

The decisions participants make during the simulation:

  • Price Control (£)
  • Predicted Market Outcome
  • Labour Market Structure
  • Final Recommendation

What participants track

What participants follow on screen as the rounds go by:

  • Policy Decision
  • Market Consequences
  • Welfare Impact per Round
  • Cumulative Policy Score
  • Policy File Archive

Subjects covered

Designed for courses in Microeconomics.

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