Uses of Capitalism in Education
A Leap in the Classroom
Business schools who have used Capitalism in teaching have reported overwhelmingly positive students feedback. Students’ interests in the course subjects and motivation to learn have increased markedly.
Professors who have used Capitalism were very pleased with the product’s performance as a teaching tool.
Professors who have used Capitalism were very pleased with the product’s performance as a teaching tool.
ApproachCapitalism 2 provides a comprehensive business environment which caters for different class objectives you set for the class; from demonstrating textbook theories to testing real life business practice.
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BenefitsUsing Capitalism 2 can greatly improve students' attention, enhance their understanding of different economic theories and application of business knowledge in an interactive environment.
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CAP 2 in ClassroomMalcolm Ferrier from British Columbia Institute of Technology started a pilot project in 2009 using Capitalism 2 “as a teaching tool in theMIS courses in two of the second year business diploma programs.
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What The Experts Say:
“Capitalism is a world class, hands-on learning experience which I've used at Stanford School of Engineering and Harvard Business School. Gamers not only learn the subtleties of growing an entrepreneurial business but also learn about leadership and team building necessary in any business situation.”
“Capitalism is very realistic and will allow the dynamics to change depending on whether you're selling a cola product, which is sort of a low tech-branded consumer good, or whether you’re selling consumer electronics or a PC.”
Professor Thomas Kosnik
Consulting Professor, Stanford University, and Lecturer, Harvard University
Consulting Professor, Stanford University, and Lecturer, Harvard University
“This game does an excellent job of modeling many of the key aspects of modern business.”
“In particular it's gratifying to me to see that the game rewards thinking about sources of long-term competitive advantage, be it from brand recognition, low production costs gained from learning-by-doing, a monopoly on high quality inputs, or a big technological lead.“
Professor Drew Fudenberg
Harvard University
Harvard University
Regional Capitalism Contest:
Duke University vs University of North Carolina
In January of 1996, MBA students from the Fuqua School of Business at Duke University and the Kenan-Flagler Business School at the University of North Carolina were invited to put the business knowledge they have learned in the school into practice. They were each given a business to manage and $10 million of capital in Enlight Software’s Capitalism simulation game. The two teams swiftly expanded their businesses, increased market shares, and undertook R&D projects. Both teams did an excellent job growing their businesses but the Duke team won by a close margin and was awarded a $500 check and given the opportunity to donate $1000 to their favorite charity.
National Capitalism Contest:
Harvard University vs Stanford University
The Duke vs. North Carolina Capitalism contest was just the beginning! In May 1996, three teams of students from Stanford and Harvard engaged in heated battle to create the most profitable business using Enlight Software's Capitalism. The students showed their capabilities in running their billion dollar business empires in the four hours of game session. The final score was derived from each team's individual wealth, number of industries and product domination as well as their corporation's market value. Beating the Harvard Grads and Stanford Grads, the Stanford Undergrad team took home the top honors in the National
How Students Learn Business Concepts Using Capitalism
- Students assume the roles of top managers of a company
- They must identify and evaluate market opportunities, formulate business plans and execute them to achieve results.
- They have to make decisions in such business areas as marketing, sales, pricing, manufacturing, hiring, capacity planning, inventory management, research and development.
- Students are given a specific set of business or financial goals to meet.
- They have to face the consequences of their decisions.
- So students must think hard about each decision they are going to make.
- During the process, they also learn the essentials of leadership and team building.