ECON 526 - Computable General Equilibrium

Institution:

Williams College

Subject:

Economics

Description:

The Computable General Equilibrium (CGE) model is an important tool for applied policy work. CGE models are the primary tool for many government organizations when evaluating policy alternatives and are also used extensively by various NGO's when deciding aid and policy recommendations. The great advantage of these models is that they capture the general equilibrium feedback effects of policy proposals on various sectors of the economy. This is of great importance to applied work, as this allows the identification of the winners and losers from potential policies. The class will begin with a general overview of CGE models. This overview will be rigorous and mathematical. This course will use the free programming packages GAMS and MPSGE to implement various CGE models using real world data. While no previous computer experience is required, some familiarity with Excel is recommended. During the latter part of the course, students will create a CGE model for a country of their choice and conduct policy experiments using their model. Interested students could continue this project as a potential thesis topic.

Credits:

3.00

Credit Hours:

Prerequisites:

Mathematics 105, Economics 251

Corequisites:

Exclusions:

Level:

Instructional Type:

Lecture

Notes:

Additional Information:

Historical Version(s):

Institution Website:

www.williams.edu

Phone Number:

(413) 597-3131

Regional Accreditation:

New England Association of Schools and Colleges

Calendar System:

Four-one-four plan

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