Teachers' Guide - List of Worksheets

In the Virtual Economy there are a number of worksheets. These are intended to be used in a variety of ways. They could be used as a basis for research with students completing them in their own time, they could be used to help promote discussion of issues and provide students with knowledge of underlying principles, or they could be used in the classroom.

Each worksheet has a variety of tasks. The early stages will often be information-gathering exercises where students are asked to use other sections of the Virtual Economy to find out facts / theories. They may then be asked to apply that information to various situations. Finally the worksheets usually suggest experiments to try on the model and ask students to see if the results of these experiments tie in with what the theory predicts. This should help to encourage students to use higher order skills of application and evaluation - vital for exam success. When students are asked in a worksheet to go to the model there will be a model icon which they can click on directly to get to the model. Sometimes the worksheet will go to the selected variables input form to make the experiments simpler and sometimes it will link to the all variables input form where the task is more complex.

Below is a full list of all the worksheets and the floor and rooms they are to be found in. To access the worksheet you want, simply follow the relevant link:

Floor	Room	Section in room	Worksheets
3rd - Economic policy	Policy tools	Income tax	1. Income tax - a demanding tax? The effects of income tax changes on the level of aggregate demand. 2. Income tax - supplying the Inland Revenue or the economy? The effect of tax changes on the supply-side. 3. Income tax - who pays what? The nature of tax - progressive / regressive, marginal and average rates. 4. Income tax - a taxing business? The effect of tax changes on business.
	Policy tools	Government expenditure	1. Government expenditure - how much? The impact of government expenditure on the macroeconomy. 2. Government expenditure - on what? The way governments should spend their money to have the maximum impact.
	Policy tools	Interest rates	1. Interest rate - an interesting rate? The factors determining interest rates and the impact that changes have on the economy.
	Policy tools	VAT and other indirect taxes	1. VAT - who pays what? The impact of indirect taxes on prices and income distribution. 2. VAT - a demanding tax? The effects that indirect tax changes have on the macroeconomy. 3. VAT - taxing externalities. Using indirect taxes to try to correct market failure.
3rd - Economic policy	Outcomes	Unemployment	1. Unemployment - whose problem? The causes of unemployment, and policies to reduce unemployment. 2. The Phillips Curve - trading off unemployment and inflation? The relationship between unemployment and inflation. Is there still a Phillips Curve?
	Outcomes	Debt ratio	1. The debt ratio - what determines its value and why does it change?
	Outcomes	Inflation	1. Inflation - are price increases inevitable? Causes of inflation and policies to reduce it. 2. The Phillips Curve - trading off unemployment and inflation? The relationship between unemployment and inflation. Is there still a Phillips Curve?
	Outcomes	Economic growth	1. Economic growth. What creates economic growth, costs of economic growth and policies to influence it.
	Outcomes	PSNCR	1. PSNCR. What determines its value and policies to change it.