Content

Macroeconomic outcomes result from the interaction of millions of heterogeneous individual and firms. At the same time, the individual behavior at the microeconomic level is influenced and constrained by emergent structures at the macro level such as habits or social norms.

Modeling these interactions between many heterogeneous agents and the interaction between different levels of the economy is very challenging with mathematical equilibrium models. The new field of emergent macroeconomics uses agent-based modeling as a modern computer simulation approach to macroeconomics.

The lecture provides background information on this approach, presents current research and introduces students to economic modeling with agents. In the lab sessions, students learn how to program in an agent-based modeling software and how to analyze existing models. In the seminar, they receive an overview over research topics and how to structure a research project.

Unterrichtssprache / Language of Instruction: Englisch

Weitere Informationen werden in Kürze folgen.