Computable simulation of markets and effects of Public policies
General data
Course ID: | 2400-PP3SL204 |
Erasmus code / ISCED: |
14.3
|
Course title: | Computable simulation of markets and effects of Public policies |
Name in Polish: | Computable simulation of markets and effects of Public policies |
Organizational unit: | Faculty of Economic Sciences |
Course groups: | |
ECTS credit allocation (and other scores): |
(not available)
|
Language: | English |
Type of course: | B.Sc. seminars |
Short description: |
The course aim is to learn market analysis using available data and to make a simulation of market distortions based on existing nonlinear optimization models. |
Full description: |
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. |
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 |
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 methods and 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. |
Copyright by University of Warsaw.