Abstract
The purpose of this study is to clarify the fundamental principles related to developing practical decision-making abilities in economic education. Through analyzing 'Mini Society' simulation material, I identified two essential elements: 1) expanding experience which results from participation in the economic society provided by the simulation; 2) reflective inquiry-an abstract conceptualization which results from reflective observations and contributes to the formation of new emotion-based values. If teachers apply these principles, children that acted as participants in the simulation can reflect and through debriefings, interpret social science concepts and construct new values on the basis of the interpretation and criticism of social scientific theories.
