Computational Economics

The ability to conceptualize an economic problem verbally, to formulate it as a mathematical model, and then represent the mathematics in software so that the model can be solved on a computer is a crucial skill for economists. Computational Economics contains well-known models--and some brand-new ones--designed to help students move from verbal to mathematical to computational representations in economic modeling. The authors' focus, however, is not just on solving the models, but also on developing the ability to modify them to reflect one's interest and point of view. The result is a book that enables students to be creative in developing models that are relevant to the economic problems of their times.


Unlike other computational economics textbooks, this book is organized around economic topics, among them macroeconomics, microeconomics, and finance. The authors employ various software systems--including MATLAB, Mathematica, GAMS, the nonlinear programming solver in Excel, and the database systems in Access--to enable students to use the most advantageous system. The book progresses from relatively simple models to more complex ones, and includes appendices on the ins and outs of running each program.


The book is intended for use by advanced undergraduates and professional economists and even, as a first exposure to computational economics, by graduate students.


  • Organized by economic topics

  • Progresses from simple to more complex models

  • Includes instructions on numerous software systems

  • Encourages customization and creativity

1100178314
Computational Economics

The ability to conceptualize an economic problem verbally, to formulate it as a mathematical model, and then represent the mathematics in software so that the model can be solved on a computer is a crucial skill for economists. Computational Economics contains well-known models--and some brand-new ones--designed to help students move from verbal to mathematical to computational representations in economic modeling. The authors' focus, however, is not just on solving the models, but also on developing the ability to modify them to reflect one's interest and point of view. The result is a book that enables students to be creative in developing models that are relevant to the economic problems of their times.


Unlike other computational economics textbooks, this book is organized around economic topics, among them macroeconomics, microeconomics, and finance. The authors employ various software systems--including MATLAB, Mathematica, GAMS, the nonlinear programming solver in Excel, and the database systems in Access--to enable students to use the most advantageous system. The book progresses from relatively simple models to more complex ones, and includes appendices on the ins and outs of running each program.


The book is intended for use by advanced undergraduates and professional economists and even, as a first exposure to computational economics, by graduate students.


  • Organized by economic topics

  • Progresses from simple to more complex models

  • Includes instructions on numerous software systems

  • Encourages customization and creativity

121.99 In Stock
Computational Economics

Computational Economics

Computational Economics

Computational Economics

eBookCourse Book (Course Book)

$121.99  $162.00 Save 25% Current price is $121.99, Original price is $162. You Save 25%.

Available on Compatible NOOK devices, the free NOOK App and in My Digital Library.
WANT A NOOK?  Explore Now

Related collections and offers


Overview

The ability to conceptualize an economic problem verbally, to formulate it as a mathematical model, and then represent the mathematics in software so that the model can be solved on a computer is a crucial skill for economists. Computational Economics contains well-known models--and some brand-new ones--designed to help students move from verbal to mathematical to computational representations in economic modeling. The authors' focus, however, is not just on solving the models, but also on developing the ability to modify them to reflect one's interest and point of view. The result is a book that enables students to be creative in developing models that are relevant to the economic problems of their times.


Unlike other computational economics textbooks, this book is organized around economic topics, among them macroeconomics, microeconomics, and finance. The authors employ various software systems--including MATLAB, Mathematica, GAMS, the nonlinear programming solver in Excel, and the database systems in Access--to enable students to use the most advantageous system. The book progresses from relatively simple models to more complex ones, and includes appendices on the ins and outs of running each program.


The book is intended for use by advanced undergraduates and professional economists and even, as a first exposure to computational economics, by graduate students.


  • Organized by economic topics

  • Progresses from simple to more complex models

  • Includes instructions on numerous software systems

  • Encourages customization and creativity


Product Details

ISBN-13: 9781400841349
Publisher: Princeton University Press
Publication date: 10/23/2011
Sold by: Barnes & Noble
Format: eBook
Pages: 456
File size: 9 MB

About the Author

David A. Kendrick is the Yarborough Centennial Professor of Liberal Arts at the University of Texas at Austin. P. Ruben Mercado is Visiting Professor at the University of Texas at Austin. Hans M. Amman is Professor of Computational Economics and Finance at the Technical University of Eindhoven in the Netherlands.

Table of Contents

Preface ix
Introduction 1


PART I: Once Over Lightly ...

Growth

Chapter 1: Growth Model in Excel 9
Finance Chapter 2: Neural Nets in Excel 25


Microeconomics

Chapter 3: PartIal Equilibrium in Mathematica 37
Chapter 4: Transportation in GAMS 55


Database

Chapter 5: Databases in Access 67


Finance

Chapter 6: Thrift in GAMS (with Genevieve Solomon) 91
Chapter 7: Portfolio Model in MATLAB 119


PART II: Once More ...

Microeconomics

Chapter 8: General Equilibrium Models in GAMS 149


Game Theory

Chapter 9: Cournot Duopoly in Mathematica (with Daniel Gaynor) 173
Chapter 10: Stackelberg Duopoly in Mathematica (with Daniel Gaynor) 189
Chapter 11: Genetic Algorithms and Evolutionary Games in MATLAB 201


Finance

Chapter 12: Genetic Algorithms and Portfolio Models in MATLAB 223


Macroeconomics

Chapter 13: Macroeconomics in GAMS 247
Agent-Based Computational Economics Chapter 14: Agent-Based Model in MATLAB 267


Environmental Economics

Chapter 15: Global Warming in GAMS 291


Dynamic Optimization

Chapter 16: Dynamic Optimization in MATLAB 309


PART III: Special Topic:tochastic Control

Stochastic Control

Chapter 17: Stochastic Control in Duali 339
Chapter 18: Rational Expectations Macro in Duali 361


APPENDIXES
A. Running GAMS 389
B. Running Mathematica 391
C. Running the Solver in Excel 393
D. Ordered Sets in GAMS 394
E. Linearization and State-Space Representation of Hall and Taylor's Model 396
F. Introduction to Nonlinear Optimization Solvers 403
G. Linear Programming Solvers 407
H. The Stacking Method in GAMS 411
I. Running MATLAB 413
J. Obtaining the Steady State of the Growth Model 414


References 417
Index 425

What People are Saying About This

Manne

Computational Economics is a pioneering textbook by the world leaders in the field.
Alan S. Manne, Stanford University

From the Publisher

"The book succeeds perfectly at enhancing the creativity and productivity of students in economics and related fields by clearly circumventing the traditional approach. The problems presented will attract the students' attention and provide motivation for further work."—Manfred Gilli, University of Geneva, Switzerland

"Computational Economics is a pioneering textbook by the world leaders in the field."—Alan S. Manne, Stanford University

Manfred Gilli

The book succeeds perfectly at enhancing the creativity and productivity of students in economics and related fields by clearly circumventing the traditional approach. The problems presented will attract the students' attention and provide motivation for further work.
Manfred Gilli, University of Geneva, Switzerland

From the B&N Reads Blog

Customer Reviews