Economic Analysis with Management games

Digital management games are built on simulation techniques that allow the players to feed in real life like situations and generate best management alternatives and practices. Management simulation games can be used an excellent tool to gauge situations from their economic perspectives and draw out plans that are economically viable, they can be used by institutes as well as organizations in the actual planning process or to train aspiring managers. Players learn to identify the best fit solution within a continuous process; they can again and again reconstruct simulated situations without incurring any real costs. When faced with real life challenges they can save on trial and error costs.

Common features of such games include:

Growth within economic constraints: here the player can explore growth possibilities in specific domains keeping in mind the economic constraints, after a number of simulations, player can chose the best alternative that maximizes growth and minimizes the cost.

Exploration or recognition of trends: the simulator can suggest trends for various data; the player can categorize alternatives into various familiar trends or explore the uncommon trends. Familiar trends can be addressed by past learning and new trends can be further analyzed for possibilities of finding adjusters.

Tools for building a set up: with the inbuilt tools within the simulation device, players can build a closed set up or a situation which needs to be analyzed from economic perspectives.

Tools for managing the set up: the simulating device provides alternative tools for managing the set up within the economic constraints. It helps the player to identify feasible and economic alternatives to manage real life situations.

Managing disasters: some simulating devices also provide tools to assess disasters; the disasters are in built under what-if logic and scenario building techniques. These enable the player to adjust or modify decisions and prepare the player to fend similar real life situations.

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