Abstract: A method for teaching economics and related practices provides a “virtual enterprise” in which various economic transactions are made. Participants or “stakeholders” in the teaching session take roles of various corporate, government, and other officials, managers, and employees. Various transactions are defined, along with corresponding transaction cards according to the transaction table of a transaction sheet. The positions of the participants may also be shown on a portion of the transaction sheet, with a cash flow statement and balance sheet shown in another area of the transaction sheet. Transaction cards are drawn singly and corresponding transactions are entered in appropriate lines of the transaction table, monitoring system, balance sheet and corresponding profit and loss statement, and cash flow statement of the transaction sheet.