NYU Florence - Giampiero M. Gallo: The International Trade Game

When teaching the course International Economics (ECON-UA 9238) in the NYU Florence campus, Professor Giampiero M. Gallo organizes a modified version of the International Trade Game, originally developed by Professor John Sloman at the University of the West of England. Students are divided into 5-6 teams that function as individual 'countries'. Countries compete to 'manufacture' paper shapes, such as circles, triangles and rectangles, and sell them to a trader at posted prices, which can vary with supply and demand.
One important feature establishes that, at the beginning of the game, groups do not know that they represent countries with different endowments of raw materials and technology as well as financial means (money). They soon understand that they need to make decisions on the group’s strategies and to negotiate with other groups regarding the use of technology, buying raw materials and producing objects which may vary in quality (and as such will receive different purchasing prices). As no previous knowledge is required, the exercise serves as an excellent introduction to a number of the important economic principles and dynamics underpinning international trade. This particular activity achieves a number of useful learning outcomes for this course not only in terms of trade theory and international relations but also with respect to the development of a cohesive and collaborative class dynamic.

[@TarannumR]

Thank you sir for sharing the idea of the international trade

[@medhaahuja6730]

Sir , will the commodity trader pay more to a rich country as its currency is more valuable?

[@mohibelahi2189]

i think for the sake of the game, no the currency has a set value, but a rich country will produce more and hence make more.