Economics with World of Warcraft?

Some students asked me why I'm so much into Minecraft when you easy could learn Economics with World of Warcraft. 

First I thought, as most other teacher would do spontaneously: "no no no, NO WAY!" but then, over the night, I had a second thought and asked them again. And after check here and there, I changed my mind and I also do believe it's possible,

As I'm deadly tired of track down every student to participate when it comes to work and deadlines I've now put together a contract. I explain all the conditions and why they have to attend all the lectures, when we have agreed we both sign the contract.

And no, I'm not getting any extra in my wallet doing this but as my students I'm playing anyway. I can take time against time and I will have one more experience and probably some Economics skill as well.

Project idea 

Is it possible to learn economics by getting the principles and bases of lectures and practice them in the game World of Warcraft, a game that already has a functioning economy? 

Disposition 

On a selected server, Frostmane EU (PvP) Alliance, we will set up a company (a guild) in the form of a limited company. The project participants create at least one bank that operates from character Enterprises Ltd and participating in the activities you decide to happen. The people who invest in foreign exchange, belongs to the companys board of directors and have thus also shares in the company. 

Before the project seriously start all the participants doing a level test, the same test is done after the project to see if any learning has taken place. Principles and general grounds in Economics will be arranged by contracted lecturer (teachers from "Bachelor of Commerce" will help us).

Arrangement 

The undersigned parties agree that it is a freely chosen course which requires personal interest and commitment, the individual student is responsible for all costs himself (playing time at Blizzard and any transfers of character to the project server). 

The student understands that the he/she must attend lectures, show respect and embrace the knowledge the lecturer tries to give (listen). Absence must be supported by a medical certificate, otherwise you are no longer with the project. 

Time in the game is based on their own interest, when the project is finished it shows the manager how much time you put through /played. The more time, the better chance for more credits. 

Suggestions for implementation 

Timetable 

• Project participants gather in a company (a guild) on the server Frostmane-EU 
• The company has limited liability company form in which those who can invest offered shares in the company. 
• Placement Test 
• All participants are doing a placement test in economics before the project. 
• All participants are doing the same level test after project 
• Did anyone learning? 
• Compulsory lectures in the following areas 
• Limited liability companies, investment, shares, dividends, etc.. 
• Bank deposits and loans 
• Goods and services, investment, buy low, sell high? 
• Market research, planning and sales 
• Profit and loss account, profit? loss? 
• Practice the theory inside the game during period 2, 3 and 4. 
• Summarize and evaluate the project in the middle / end of the period of the fourth 

Preconditions 

• There will be a new expansion Nov. 13, 2014, what does it? 
• The market is communist because Blizzard (the game company) controls the market through patches and expansions. 

Issues 

• Is it possible to check and control the market? 
• Is it possible to manipulate the market? 
• With the upcoming expansion, if you invest right, we can double our capital? 
• Compare the game with reality 
• What happens in the game when a patch or expansion? 
• What happens in reality when it imposed sanctions on another country (eg. Russia) 
• Can we get a guild to reflect a company with financial officer, president, vice president, shareholders, directors, responsibilities, stock market coverage? 

Theories 

• A high populated server (world) means better data, more consumers and more stable prices. 
• With a good initial capital can control the market by simply buying off cheap resources and sell them more expensive for everyone will need an incredibly large amount of resources at the beginning (of the next expansion) to develop their characters. 
• It can produce services that can be sold before expensive. 
• New expansion involving the opportunity to own settlements are likely to affect the economy, uncertain.