COMPUTABLE SIMULATION OF MARKETS OR PUBLIC POLICIES 2400-ENSM052B
How to define a market? There is no single definition, because it depends on the type of analysis. The goal of the seminar is to show how markets can be analyzed from the general perspective. Statistical offices publish an input-output table that shows a relationship between production sectors. It can be interpreted as a relationship between markets. When more detailed data are available, the markets can be defined in a different way. In order to provide a computable simulation of selected market or economy, we will use a mathematical software GAMS. Students will have an opportunity to learn simple modeling of markets and how to make a simulation of government policies.
The course aim is to help students to prepare a Master thesis. Students will be expected to select a topic, read an appropriate literature, to make a class presentation of the work progress, and to prepare a final paper. Papers will be graded based on their clarity and academic quality. The most welcome topics are market research, econometric analysis, general equilibrium modeling, environmental economics. Students may offer their own topic.
Type of course
Course coordinators
Learning outcomes
Upon the seminar completion, students will be able to provide simple simulations of economic activities, to use a software GAMS (general algebraic modeling system), to analyze input-output flows and other statistical data, to provide market analysis.
Assessment criteria
Literature review, programing language MPSGE, simple computable simulations, results interpretation.
Applied tools - video platforms for remote learning approved by the University of Warsaw.
Attendance verification – the attendance is not necessary, but the thesis progress is required.
The final evaluation will be based on the completed thesis.
Bibliography
GAMS documentation, http://www.gams.com/docs/document.htm. The free version is enough to provide simple simulations
A. Brook, D.Kendrick, A.Meeraus (1988), GAMS a User’s Guide, The Scientific Press
E. J. Chambers and D. F. Gordon (1966), "Primary products and economic growth: an empirical measurement", Journal of Political Economy 74, 315-332.
R. W. Fogel (1967), "The specification problem in economic history", Journal of Economic History 27, 283-308.
R. W. Jones (1965), "The structure of simple general equilibrium models", Journal of Political Economy 73, 557-572.
Z.Wang, J.Slagle (1996), “An Object-oriented Knowledge-based Approach for formulating applied general equilibrium models”, Journal of Economic Dynamics and Control 20, 209-236
I.S.Wing (2004), Computable general equilibrium models and their use in economy-wide policy analysis: Everything you ever wanted to know (but were afraid to ask), MIT Technical Note 6
Additional information
Additional information (registration calendar, class conductors, localization and schedules of classes), might be available in the USOSweb system: