I just launched my 3rd video on the economics board game Age of Comics: The Golden Years by Lirius Games @liriusgames (no paid promotions!), which can be seen on my IB Economics YouTube channel: https://www.youtube.com/@EZNOMICS
The video provides a two-player (duopoly) two round run through of the game:
https://www.youtube.com/watch?v=RQxsbr8cxKA
To reduce screen time & increase family time at home, I've been delving into the expanding world of economic board games as a fun way to teach/learn economics!
The first game I'm currently exploring on my channel is Age of Comics, a worker placement game in which you, as a comic book publisher, compete against other oligopolistic publishers for loyal fans.
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Micro concepts within the game include:
* Theory of the Firm
* Comic book publishers operate within the market structure of duopoly if it’s a 2-player game
* However, if it’s a 3-to-4-player game, the market structure is an oligopoly
* In addition, game theory is present through the strategic behavior of the competing firms
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Player actions include:
* Hiring writers & artists
* Developing story ideas
* Developing original comics
* Printing both original & rip-off comics
* Collecting royalties & sales revenue
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Production concepts:
* The role of the entrepreneur to organize factors of production through the employment & costs of labor & capital resources
* Product differentiation & non-price competition
* Competing substitutes
* Sales & marketing
* Job training as a positive production externality
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Consumption concepts:
* Non-price determinants of demand
* Changes in tastes & preferences
* Sales & marketing & building hype for an upcoming comic book
* How competing substitutes impact demand
* And how household expenditure = the revenue earned by the firm