The Virtual Learning Arcade (VLA) is an exciting new section on Biz/ed that provides interactive online models and simulations for economics and business teachers, lecturers and students. The simulations also have support materials that have been written to enhance their educational value. These include explanations of relevant theories, interactive worksheets, definitions and guidelines on using the models. The models currently available are shown below.

For a brief outline of each simulation and more information on how to incorporate the VLA within your schemes of work visit the supporting notes. We would also like to acknowledge the work of key individuals in the development of the VLA.

• Cross price elasticity of demand
• Advertising elasticity of demand
• Price elasticity of demand

• Determining the price of a house
• The interrelationship between markets

• Sales versus profit maximisation
• Third degree price discrimination

• The trade balance and the exchange rate

• Break-even analysis
• Profit & loss account
• Performance ratio analysis

• Biz/ed Virtual Farm - Who wants to be a farmer? Try running a farm for 10 years.