Economics · Macroeconomics

The Impossible Trade-off: Phillips Curve & NAIRU

Travel through six decades of UK macroeconomic history as economic advisor to the Prime Minister.

6 rounds Executive English, Español

Preview

About this simulation

Travel through six decades of UK macroeconomic history as economic advisor to the Prime Minister. Predict inflation and unemployment, diagnose the Phillips Curve, and recommend policy across eras — from the stable 1960s trade-off and the 1973 oil shock to Thatcher's monetarism, the Great Moderation, the post-Covid inflation surge, and the 2026 synthesis.

Who it is for

An advanced simulation for participants used to working with the main frameworks and trade-offs of the subject, designed for executive education and experienced professionals.

How a session runs

  1. The instructor creates a session from the Eureka dashboard and invites the participants.
  2. Participants play 6 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:

  • Predicted Inflation (%)
  • Predicted Unemployment (%)
  • Curve Diagnosis
  • Policy Recommendation

What participants track

What participants follow on screen as the rounds go by:

  • Advisor Decisions
  • Live Phillips Curve — UK 1965–2026
  • Policy Score per Era
  • Advisor Record

Subjects covered

Designed for courses in Macroeconomics.

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