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Realty Tycoon Simulation Game

In: Business and Management

Submitted By alokpaul13
Words 654
Pages 3
Alternative method of teaching is a very important tool to encourage students to learn in a fun and meaningful way. Simulation game is one of the ways to achieve that. A simulation game is a dramatic view of real life situations for the serious purpose of learning about real experiences in a controlled environment.
Students of CEC from IIM Raipur created and conceptualized a simulation game, REAL-TY-COON. The main objective of the game is to replicate real life scenario of construction business. The game is based on the concept of demand and supply and how market prices of products are determined.
The game consisted of 5 set of teams. 4 set of teams played the role of suppliers and 1 played the role of builders. The division of teams was done as follows: Team Type | Teams | No. of Players | Builders | 5 | 4 | Cement Suppliers | 3 | 2 | Sand Suppliers | 3 | 2 | Stone Suppliers | 3 | 2 | Steel Suppliers | 3 | 2 | The game has 5 rounds. In each round, builders have to build a specific building allocated to them. To build any of the buildings, they have to buy adequate amount of cement, stone, steel and sand from the suppliers. They will be provided with fixed initial amount of cash. Builders can approach bank to get additional cash at a fixed rate of 10% which will be applicable for that round only, carrying forward loan for each extra round will attract an additional 5% rate per round. In case the builders are not able to get a deal from the suppliers in the stipulated time, they need to purchase the required materials by the bank at a fixed rate which might be higher as compared to the market prices.
The suppliers will be provided with fixed inventory at the beginning of the game. The Cost Price of the materials will be disclosed only to the suppliers. The suppliers can fix their Selling Price according to the changing demand. In...

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