Title:
Does Costing Matter in Determining a Product's Price in a
Competitive Market Setting? Usability, Efficiency, and Security
Updates of Software to Support a Managerial Accounting Experiential
Learning Experience
Faculty Client:
Shane Dikolli, shane.dikolli@mccombs.utexas.edu
Student Developer(s):
Chadwick Wood
Rohit Chawla
Project Description:
To simulate the experience of pricing products in a specified
market and then get instant profit/loss feedback, groups of
students, acting as their own “firm,” develop
private information about their company’s production
costs before class starts and then set a price for their products
during class (in this case, hiking boots). Students submit
their prices via a Web site that contains demand and profit
functions that are interrelated among firms, thereby simulating
market feedback. After five rounds, students have experienced
the effect of idiosyncratic product costing systems on the
competitive market place. This project increased the usability,
functionality, and scalability of the existing project built
last ~FAST Tex season.
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