This paper describes a classroom exercise in which students apply negotiation and project finance skills in a simulated economic development negotiation. The goal of the exercise is that students’ experience of negotiating a deal will lead them to constructively explore concepts of "good process" and "just outcomes." Public–private development dominates redevelopment practice, and its vocabulary—that of negotiation and contracting—has gained ascendance in the field. Trends in planning pedagogy reflect this phenomenon, but training for professional planners also needs to encompass their future roles as exercisers of situated ethical judgment.