Activity 01
Market Simulation: Skill Demand Auction
Divide class into workers with skill cards (e.g., nurse, coder) and businesses with budgets. Businesses bid for skills in rounds; increase demand for one skill and observe wage rises. Debrief on supply-demand links with class chart.
Explain how an increase in demand for a particular skill affects wages in that industry.
Facilitation TipDuring the Skill Demand Auction, circulate and ask teams to explain their bid choices aloud to uncover hidden assumptions about skill value.
What to look forProvide students with a scenario, for example: 'Demand for nurses in regional Australia has increased significantly.' Ask them to write two sentences explaining how this might affect wages for nurses and one reason why.