Once the simulation starts you cannot stop it or go back please take screenshots of the finished product. Then write a discussion on game simulations. Please send pictures along with the discussion. Peer reviews can be turned in tomorrow.
8-2 Discussion: Frontiers of Microeconomics
Economic behavior is more complex than assumed by conventional economic theory. Political economy explains the functioning of government. Behavioral economics ties psychology into human behavior.
Economists assume that individuals make rational decisions. However real people are more complex.
Based on what you have learned in your assigned reading, answer the following questions in your initial post:
What are the human behaviors economists should observe when creating economic models? For example people tend to find solutions that are good enough, but not the best solutions.
In your responses, comment on at least two of your peers’ posts and share examples of how non-rational human behavior can change an economic outcome.
To complete this assignment, review the Module Eight Discussion Rubric.
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