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University of Oldenburg
16.10.2021 00:37:08
wir892 - Computational Economics (Complete module description)
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Module label Computational Economics
Module code wir892
Credit points 6.0 KP
Workload 180 h
Institute directory Department of Business Administration, Economics and Law (Economics)
Applicability of the module
  • Master Applied Economics and Data Science (Master) > Empirical Methods
  • Master's Programme Sustainability Economics and Management (Master) > Additional Modules
Responsible persons
Böhringer, Christoph (Module responsibility)
Lehrenden, Die im Modul (Authorized examiners)
Prerequisites
None
Skills to be acquired in this module
Computer-based simulations play a key role for quantifying the economic impacts of policy reforms. Among numerical simulation methods, computable partial equilibrium (CPE) models are widely used in applied economic analysis. These models build on microeconomic theory for describing supply and demand behavior of economic agents on markets. Students will learn how to program such models and apply them to the impact assessment of trade, fiscal, or environmental policies.
Module contents
In the course, we start from basic microeconomic theory to describe the supply-side and demand-side responses on economic markets triggered by regulatory policy measures such as taxes or subsidies. We then translate simple theoretical models into computable partical equilibrium (CPE) models and use empirical data for model parametrization. Subsequently, the CPE models are used to quantify the economic efficiency impacts and the economic incidence of policy instruments such as taxes, subsidies, standards or quotas. For the implementation of the simulatoin models on the students’ PC we will learn a powerful state-of-the-art modeling language called GAMS (Generic Algebraic Modeling System) which initially had been developed for World Bank economists. The fundamental strength of GAMS lies in the ease with which algebraic models in economics and management (or other sciences) can be formulated and solved. Students enrolled to the course will receive a free GAMS license. For the examination, the students will be requested to adapt a basic market model towards a policy issue of their choice and provide a small written essay (max. 10 pages) on their applied analysis. For this, the students can team up in groups with 2 people and hand in their essay until the end of the summer semester.
Reader's advisory
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Links
Language of instruction English
Duration (semesters) 1 Semester
Module frequency Annual
Module capacity 14
Modullevel / module level MM (Mastermodul / Master module)
Modulart / typ of module Pflicht o. Wahlpflicht / compulsory or optional
Lehr-/Lernform / Teaching/Learning method Lectures and exercises
Vorkenntnisse / Previous knowledge Microeconomics
Course type Comment SWS Frequency Workload of compulsory attendance
Lecture
2 SoSe oder WiSe 28
Seminar
2 SoSe oder WiSe 28
Total time of attendance for the module 56 h
Examination Time of examination Type of examination
Final exam of module
At the end of the lecture period
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