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Inflation Island
Explore the different areas of Inflation Island, see how people react to inflation and deflation, and how the scenery changes. You can also test your knowledge and try to identify the different inflation scenarios
Type of content:
Assets
Type of asset:
Tool
Big data potential
No
Policy domains:
Economy & Finance
Phase in the policy cycle:
Policy Design and Analysis
TRL
8
Open license availability
Yes
Tags:
Citizen-centred policy-making
Serves:
Addresses:
| SWOT Analysis for Inflation Island |
||
|---|---|---|
| Helpful | Harmful | |
Internal |
Strengths• Learn about inflation, you will also discover that deflation is not good for a stable economy either. In the game you will be switching from price stability to deflation, high inflation, or hyperinflation to see how it affects various people’s lives. • Designed to educate: have fun while learning about the benefits of price stability, the risks of inflation or deflation and the workings of central banks • Better learning experience • Instant feedback. Since gamification provides metrics it can be easily seen, as trainer, how a participant is progressing. • Learning experience is personalized; the learners could evolve in their own rhythm, in a safe way. Gratification system provides an effective, informal learning environment that helps learners practice real life situations and challenges. |
Weaknesses• Uses Adobe Flash technology: For performance and security reasons, modern browsers either discourage the use of, or block completely, the Flash Player plug-in. You need to give explicit permission to your browser to run it. (security risk) • Applies only to young people and people familiar with technology • Need for intermittent connectivity: an internet connection is needed |
External |
Opportunities• Helps you discover how inflation affects the economy • Designed to educate: have fun while learning about the benefits of price stability, the risks of inflation or deflation and the workings of central banks • The success of the European Central Bank's policies depends heavily on being understood by a wide audience |
Threats• The success of the European Central Bank's policies depends heavily on being understood by a wide audience • For performance and security reasons, modern browsers either discourage the use of, or block completely, the Flash Player plug-in. you need to give explicit permission to your browser to run it -Unclear effects on user attitudes and behaviours: many researches highlighted that different forms of extrinsic rewards could determine in specific contexts, a detrimental effect on the users’ intrinsic motivation • Simplification and limitation of the game elements employed: Some designers believe that limiting its perspective to the use of points, badges and leader boards is the main problem of gamification. • One size fits all: The spreading of third-part services on the one hand has promoted the adoption of gamification, on the other hand has highlighted the problem of the one size-fits-all approach currently applied to many gamification interventions. This design technique is mainly actualized as a cut and paste methodology, lacking originality not only for the scarce variety of the elements commonly employed, but also for a perspective that is inclined to consider different contexts and different users in the same way. |
