Board Game Simulates Market Process
If you have ever played the board game “Settlers of Catan” you will know how surprisingly fun and addictive it is. I never thought it could be used to teach kids about market economies:
One of the driving factors in Settlers—and one of the secrets to its success—is that nobody has reliable access to all five resources. This means players must swap cards to get what they need, creating a lively and dynamic market, which works like any other: If ore isn’t rolled for several turns, it becomes more valuable. “Even in this tiny, tiny microcosm of life, scarcity leads to higher prices, and plenty leads to lower prices,” says George Mason University economist Russ Roberts, who uses Settlers to teach his four children how free markets work.