WATCH: Gaming International Trade
When teaching the course International Economics at the NYU Florence campus, Professor Giampiero Gallo organizes a modified version of the International Trade Game. Students are divided into teams – functioning as individual countries – and compete to manufacture and sell products to a trader at posted prices, which can vary with supply and demand.
Students 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 products which may vary in quality and as such will fetch different purchasing prices. The exercise serves as an introduction to the dynamics underpinning international trade.