ECO5056S
- Economic Modelling Techniques
Course Information
Introduction
This course will expose students to the fundamental techniques of
mathematical modelling in economics. The course will focus on the building and
subsequent analysis of partial equilibrium and simple multi-sector computable
general equilibrium (CGE) models.
Use of these models is widespread in the analysis of trade reform and fiscal,
tax and environmental policy. Computers will be used extensively with students
developing their own models using the student version of GAMS. Assessment will
be largely project based.
Course Outline
The course builds on material designed by IFPRI who have been involved in the
development of this course over the past two years. The course combines theory,
data, and application, with emphasis on hands-on computer training. In the
theory area, it surveys basic micro, macro, and trade theory, all of which are
applied in economic models. Other topics dealing with government finance,
regulation and environmental economics may also be dealt with. The general
equilibrium models developed are structured around Social Accounting Matrices (SAMs)
which provide a practical and consistent framework for organising economic data.
The course presents this framework and leads students from simple SAM based
models to more complex CGE models.
For economic modelling the course teaches the GAMS programming languages. The
different parts of the course are tightly integrated and cumulative - the course
moves from the simple to the complex; both theoretical and applied skills
developed at earlier stages are drawn upon and further developed at later
stages. At each stage extensive computer-based exercises are provided. By the
end of the course participants will be competent in the programming and use of
standard CGE models.
For more information on the 2 week intensive CGE course run each July click
here.
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