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Developing a Virtual Market for Practice Firms

The project will develop a interactive, easily accessible IT application for international trade between simulated companies (practice firms) across Europe. A network of such firms / centres will be established primarily across the partner countries.Initial standards and quality criteria will be agreed, across the partner countries, as regards participation in the network and access to the application. This will be applicable to both simulated companies (practice firms) and centres responsible for such training.Following the establishment of standards and quality criteria, a web-based software package will be developed and implemented to enable European simulated companies (practice firms) to trade with each other. The software will also have the capacity to enable the monitoring of supply and demand and where necessary, will also allow the submission of tenders (according to EU regulations) thus further introducing an element of European law into the learning environment.A separate IT application will also be developed adding banking & financial modules to the website, allowing centres in different countries to create 'virtual money flow' and further increasing the reality of the simulated learning environment.To support the two applications, a support manual will be produced, in all partner languages (HU, FR, IT & DE).