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Event

Semester: Summer term 2024

2.12.282 Computational Economics -  


Event date(s) | room

Description

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.

lecturer

Tutors

Study fields

  • Studium generale / Gasthörstudium

SWS
4

Lehrsprache
englisch

Für Gasthörende / Studium generale geöffnet:
Ja

Hinweise zum Inhalt der Veranstaltung für Gasthörende
Topics in economic research / Advanced topics in sustainability economics Computer-based numerical simulations are an important method in applied economic analysis for assessing the impacts of policy reforms. This course provides an introduction to simple numerical models that can be used for quantifying the effects of important energy and climate policy regulations. Such regulations build either on market-based instruments (e.g., emission taxes and tradable permits) or command-and-control strategies (e.g., energy efficiency mandates, renewable portfolio standards, and technology phase-out policies).

Hinweise zur Teilnahme für Gasthörende
Lehrsprache: englisch

(Changed: 19 Jan 2024)  | 
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