Economic Simulation

EconoMix

EconoMix is a flexible Economic Simulation framework which allows up to 6 teams to represent different autonomous economic regions (e.g. countries) which all belong to a larger economic area (e.g. the EU) to compete with each other for company inward investment over a 4-year period.

The levers available to each region include corporation tax levels, supporting grants/services, regional competitiveness strategy, operational priorities, key regional policies (health, education ...) and inter-regional co-operation (e.g citizen mobility, common standards, state aids ...).

EconoMix can be completed virtually or face-to-face in 3-4 hours and is built using the powerful DILEMMA Business Simulation Design Engine.

Screenshots

Key Functionality

The objective of this Economic Simulation Game is to attract and retain companies who will invest, trade, prosper and create employment in your region in the face of stern competition from the other regions.

In our post-Covid world employment may not just be in-region employment but may include overseas workers and jobs created in the wider supply chain.

It is also important that each region builds a sustainable economy rather than attracting companies with special deals which are not supportable in the medium to long-term.

Key measures of regional success in the Simulation include

Regional Share of Inward Investment secured
Tax Revenues raised in Region

Regional Reputation for Inward Investment
Regional Competitiveness Index

Special Features

Every year each region must also make key policy decisions in key areas which will affect their region's ability to attract and retain inward investor companies.

These policy decisions will be informed by a constant stream of news updates throughout the year which are fed to each region electronically and include:

Infrastructure (physical and digital)
Healthcare
Education and Child Care
Culture and the Arts

Diversity, Inclusion and Discrimination
Environment
Sports, Leisure and Well-being
Legislative Environment

The Simulation can also be easily customised, for example:

Changing the Global Economic Conditions (for each round during a live simulation session)

Changing the Policy Decisions and the supporting narrative

"Unleveling the playing field" (e.g. setting up "challenger" regions versus "established" regions)

“

EconoMix is based on modern economic development best practice and designed by Ken Thompson who has worked extensively in Regional Economic Development and is author of the book “The Networked Enterprise: Competing for the Future" which addresses how companies and regions can thrive in the globally interconnected digital era.