Economic Development

EconoMix

EconoMix is a flexible 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.


Key Functionality

The objective of EconoMix 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 attractive 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.

Want to know more about EconoMix?

As well as a EconoMix information pack we will send you a FREE Executive Summary of our Book:

A Systematic Guide to Game Based Learning in Organizations

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