Friday evening November 15, 2019, the China Entrepreneur Network of Michigan State University held an event on the MSU Campus. "Crazy Rich" was a competition for students based around Speculation Strategy. MBN was on hand for a part of the evening.
Wade Tong and Jeffrey Mosher of Michigan Business Network visited this event to see what it was all about. Attendance for this was up from one held previously, and it drew attendees and competitors from both international and domestic students.
As they are ready MBN will share some audio coverage from the evening. Until then please read over the rules of that competition, and enjoy the photos shared below!
MSU CEN Crazy Rich Game rules
- Every group have one or two members
- The initial fund of the group is 1000, the ethic credit is 100
- The game have total 35 rounds, each round can take as one month, all the candidate can pick sell or buy in one kind of product
- There are 8 products for total, each round will show up 5 of them on the screen, the player can only operate on those 5 products.
- After 35 rounds, the group has the most left over fund win the game
- The First price got 500 dollars, second got 200 dollars with car coupons, the Third price got 100 dollars
- There are 5 instructions in the program, buy, sell, loan, repay and process to next month
Fund & Product & Ethic Credit
- Fund only means the cash that players can use, not include the product value
- In every round the product category and price changes, the product showed on the screen can sell or buy.
- The initial ethic credit for each group is 100, when selling marijuana, the system will deduct corresponded ethic credit according to the selling amount. Each group will get one credit back on each round.
- Any group can do loan to the bank, the max loan amount is 50% of sum of product value and fund.
- When payback the loan, interest need to be paid. The interest rate will raise when ethic credit decrease
- The finished loan’s Interest rate would not change before payback, players need to payback the loan and interest in the same time, no installment accepted.
- Players can not do another loan until they pay back the loan they have.
- The operation of loan or payback should do before buy and sell process of the products
- Before 35 round, players should sell all the products they have.