INVESTMENT MANAGEMENT GAME (IMAG)

Investment Management Game (IMAG)

Erasmus+ Project 2022-2025: In this project we developed online courses to bring essential pension-finance knowledge to European citizens and higher-education students through accessible online courses and hands-on web applications.

Go to simulation See teaching material

An academic–industry initiative for digital finance education

  • • Four audiences can play the game in various setups: schools, universities, professionals, and adult learners.
  • • Due to its modular structure, there is gameplay from introductory to advanced scenarios.
  • • Built-in guidance, ESG integration, and competition-ready formats.
  • • Already played by >100 universities on four continents.
Supported by Erasmus+

Project

IMAG brings investment management to life through a web-based simulation where learners act as portfolio managers. Participants practise diversification, risk–return decisions, and sustainable (ESG) investing in realistic scenarios, with modular complexity for schools, universities, and professional training. Guided onboarding, open teaching resources, and competition-ready formats make it easy to adopt in courses and workshops.
Our game, Cesim Invest, focuses on strategic fund management, ESG-integrated investing, and tactical decision-making. Participants manage diversified portfolios, integrate ESG factors, and oversee corporate strategies, gaining practical experience in asset management and investment decision-making.

© Cesim

Project Team & Partners

University of Liechtenstein

University of Liechtenstein

Project lead; learning objectives, game design, testing & dissemination.

Show team
Assoz.-Prof. Dr. Sebastian Stöckl
Lukas Salcher

Lukas Salcher

Project Management

Libera Università di Bolzano (unibz)

Libera Università di Bolzano (unibz)

Co-design of scenarios & pedagogy; classroom pilots and usability feedback.

Show team
Prof. Alex Weissensteiner

Prof. Alex Weissensteiner

Project Member

Dr. Maria Kosolapova

Dr. Maria Kosolapova

Project Member

Cesim Oy

Cesim Oy

Simulation platform development, hosting & technical operations.

Show team
Tikka Vesterinen

Ilkka Vesterinen

Head of Development, Owner, Co-Founder

Anton Monnberg

Anton Monnberg

Developer (as of 05/2023)

Waqas Mir

Waqas Mir

Salesforce

  • Jonas Määttä (until 05/2024)
  • Aarne Meijanen (as of 07/2024)
  • Aku Hjelm

Outcomes

Cesim Invest — The IMAG Simulation

A web-based investment management simulation where participants act as portfolio managers. Learners practise diversification, risk–return decisions, and ESG-integrated investing via round-based gameplay with clear KPIs and guided onboarding. The simulation is modular and suitable for schools, universities, and professional training.

📄Case Description — Asterion Capital 📄Player Decision Guide 📄Instructor Portal (PDF export)
Go to simulation See teaching material

Contact

Liechtenstein Business School, University of Liechtenstein
Fürst-Franz-Josef-Strasse, 9490 Vaduz, Liechtenstein
Project Director: Prof. Dr. Sebastian Stöckl  •  Project Coordinator: Lukas Salcher
Contact