The paper reviews theoretical and empirical literature about the method of computer simulation-enhanced management education. Especially, the paper synthesizes research about possible learning effects of simulation as teaching method. I show that current research does not have satisfying answers to the question about what the learning outcomes of simulation-based courses actually are. The paper develops a clear structure about the teaching method, its applications, and embeds it in the realm of learning theory. The discussion touches upon factors which influence possible learning effects significantly. One course of the author is used as a case to outline the development of a university course using simulation.