Development game “settlers of catan”
Course:- Microeconomics
Length: 6
Reference No.:- EM1344

Assignment Help
Expertsmind Rated 4.9 / 5 based on 47215 reviews.
Review Site
Assignment Help >> Microeconomics

Read the rules of the game, the overview and the almanac for the Development Game "Settlers of Catan".

1.Discuss what "economic development" means in the context of this game? (Hint: How do you win, and what do you have at the end of the game that you did not have at the beginning of the game?)

2. Would "Victory Points" be a measure of player's "GDP"? If not, then how would you calculate a player's GDP?

3. Can you describe what the production function for the game looks like? (How are labour, capital and resources combined? Are there constant, increasing or decreasing returns to scale?)

4. We have discussed the importance of resource endowments and institutions for an economy's successful development.

a. In this game, what are the resources that make up the endowments, and what defines a given player's endowment of resource at the start of the game? (e.g. what do they have and how much? Is a "hex" a "hex"?)

b. How do institutions matter for the game's outcome? (Hint: Think of trade rules, the role of the robber, the "Monopoly Card" and the role of the army)

c. How does technical progress occur in the game? Is there any other way that technical progress could have been introduced to the game?

d. Is being on the coast is an important determinant of "success" in this game? Why or why not?

e. What else would matter for the "success" of a player in this game?

5. I have provided you with a proposed board of play that is intended to represent the territory that becomes Canada.

a. How well does this "model" represent Canada? (Hint: look at an atlas)

i. Is the distribution of endowments a reasonable approximation to reality?

ii. Is there anything missing?

b. What region, or provinces, of Canada is represented by each player colour? 

Put your comment

Ask Question & Get Answers from Experts
Browse some more (Microeconomics) Materials
What is the CPI (Consumer Price Index) and what significance does it hold in regards to goods and services? Please explain in detail.
(Labor Productivity) Go to the Bureau of Labor Statistics (BLS) page on Quarterly Labor Productivity at http://www. bls.gov/lpc/ and get the latest news release on productiv
Explain how a item might evolve from one market structure to another and what that means as to the value, competition and number for companies producing that product.
There is significant disagreement whether a dependable positive correlation (relationship) exists between incentive pay and individual employee productivity. Question is wha
Explain purchasing power parity and why it does not hold perfectly in the real world - How would the effects of international trade on the domestic orange market change if th
Suppose that the government increases taxes and government purchases by equal amounts. What happens to the interest rate and investment in response to this balanced-budget c
What is the current unemployment rate (hint: the update on the unemployment rate is usually released the first friday of each month) Do you think this unemployment rate is g
Lumberjack Power, operator of a nuclear power plant, is planning to replace its current equipment with some that is more environmentally friendly. The old equipment has annual