wir892 - Computational Economics

Department of Business Administration, Economics and Law (Economics)		6 KP
Module components	Semester courses Summer semester 2024	Examination
Lecture	2.12.282 - Computational Economics Prof. Dr. Christoph Böhringer Monday: 12:00 - 16:00, weekly (from 08/04/24) 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. 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 partial 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 simulation 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.
Seminar	2.12.283 - Applied Economic Policy using EXCEL/GAMS Lukas Riesenbeck Laura Schürer Dates on Monday, 25.03.2024 - Thursday, 28.03.2024 10:00 - 17:00 This course is voluntary and supports students to learn fundamentals of the GAMS programming language that is used in the associated course "Computational Economics".
Hinweise zum Modul
Prerequisites None Kapazität/Teilnehmerzahl 14 Prüfungszeiten At the end of the lecture period Module examination Portfolio 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.