Introduction
The Virtual Economy is an online internet-based model of the United Kingdom Economy. The economy contains extensive supporting materials which are used for determining the optimal macroeconomic mix in policy formulation. The model was developed by the Institute of Fiscal Studies and Biz/ed group and was supported by the Nuffield Foundation. The developers of the model came from the University of Bristol. Currently, the Virtual Economy model is based on the United Kingdom Chancellor of the Exchequer. Unlike many of the macroeconomic policy simulations, the Virtual Economy is not a game. The virtual Economy is found on “11 Downing Street” which is divided into five floors. Each floor is made up of virtual rooms that contain different resources
