Specification and Simulation of General Equilibrium Models

Modul: Specification and Simulation of General Equilibrium Models (6 Credits)
Name im Diploma Supplement	Specification and Simulation of General Equilibrium Models
Verantwortlich	Prof. Dr. Volker Clausen
Voraussetzungen	Siehe Prüfungsordnung.
Workload	180 Stunden studentischer Workload gesamt, davon: Präsenzzeit: 45 Stunden Vorbereitung, Nachbereitung: 90 Stunden Prüfungsvorbereitung: 45 Stunden
Dauer	Das Modul erstreckt sich über 1 Semester.
Qualifikationsziele	Students have a deepened understanding of computable general equilibrium models master the basics of implementation of the general equilibrium models are able to adopt this methodology in their independent quantitative analyses can describe and interpret the results from general equilibrium models linking them to relevant theory learn the programming language GAMS, the model language MCP and the meta-language MPSGE understand simple basic models and their extensions are able to implement the basic models independently both in MCP and MPSGE can modify the given models in order to capture other situations can interpret the results and link them to the relevant economic theory
Praxisrelevanz	The content of the course is useful in many scientific institutions, business consultancy, multinational firms, international organizations, economic research institutes and ministries. The theory-driven step-by-step specification of the models is a prerequisite for understanding economic research in this field and thus a basis for conducting independent research.
Prüfungsmodalitäten	The module-related examination is performed by a written test (usually 60-90 minutes).
Verwendung in Studiengängen	BWL EaF Master > Wahlpflichtbereich > 1.-3. FS, Wahlpflicht Mathe Master > Anwendungsfach "Wirtschaftswissenschaften" > Schwerpunkt "VWL-M II" > 1.4. FS, Wahlpflicht Mathe Master > Anwendungsfach "Wirtschaftswissenschaften" > Schwerpunkt "VWL-M I" > 1.4. FS, Wahlpflicht VWL Master > Wahlpflichtbereich I > 1.-3. FS, Wahlpflicht WiMathe Master > VWL-M I > 1.-4. FS, Wahlpflicht WiMathe Master > VWL-M II > 1.-4. FS, Wahlpflicht
Bestandteile	Vorlesung General Equilibrium Models of Open Economies (3 Credits) Übung General Equilibrium Models of Open Economies (3 Credits)
Modul: Specification and Simulation of General Equilibrium Models (WIWI‑M0661)

Vorlesung: General Equilibrium Models of Open Economies (3 Credits)
Name im Diploma Supplement	General Equilibrium Models of Open Economies
Anbieter	Lehrstuhl für VWL, insb. Internationale Wirtschaftsbeziehungen
Lehrperson	Prof. Dr. Volker Clausen
Semesterwochenstunden	2	Sprache	englisch
Turnus	jedes zweite Wintersemester	maximale Hörerschaft	16
empfohlenes Vorwissen Advanced knowledge in the field of international trade
Abstract The course provides deep knowledge of design and implementation of Computable General Equilibrium (CGE) models.
Qualifikationsziele Students have a deepened understanding of computable general equilibrium models master the basics of implementation of the general equilibrium models are able to adopt this methodology in their independent quantitative analyses can describe and interpret the results from general equilibrium models linking them to relevant theory
Lehrinhalte Introduction to computable general equilibrium analysis Comparative static analysis of a closed economy with two goods and two production factors Extensions of the basicmodel for a closed economy with heterogeneous labor, heterogeneous households and endogenous labor supply Models of open economies: extension of the basic model for an open economy with import tariffs and quotas and other trade policies General equilibrium models with imperfect competition on the goods markets
Literaturangaben Francois/Reinert, Applied Methods for Trade Policy Analysis; Jones, The Structure of Simple General Equilibrium Models; Shoven/Whalley, Applying General Equilibrium; Articles from economics literature
didaktisches Konzept The class is held in the form of lectures. The construction and implementation of the abovementioned models is illustrated by using a special software (GAMS, „General Algebraic Modeling System“) as well as a special programming language for general equilibrium models (MPSGE, „Mathematical Programming System for General Equilibrium“).
Vorlesung: General Equilibrium Models of Open Economies (WIWI‑C0806)

Übung: General Equilibrium Models of Open Economies (3 Credits)
Name im Diploma Supplement	General Equilibrium Models of Open Economies
Anbieter	Lehrstuhl für VWL, insb. Internationale Wirtschaftsbeziehungen
Lehrperson	Prof. Dr. Volker Clausen
Semesterwochenstunden	2	Sprache	englisch
Turnus	jedes zweite Wintersemester	maximale Hörerschaft	16
Abstract This tutorial provides students with programming experience while constructing and implementing the computable general equilibrium models.
Qualifikationsziele Students learn the programming language GAMS, the model language MCP and the meta-language MPSGE understand simple basic models and their extensions are able to implement the basic models independently both in MCP and MPSGE can modify the given models in order to capture other situations can interpret the results and link them to the relevant economic theory
Lehrinhalte Introduction to computable general equilibrium analysis Comparative static analysis of closed economy with two goods and two production factors Extensions of the basic model for closed economy with heterogeneous labor, heterogeneous households and endogenous labor supply Models of open economies: extension of the basic model for open economy with import tariffs and quotas as well as with international mobile capital General equilibrium models with imperfect competition on the goods markets
Literaturangaben Markusen, J. R., The Markusen Examples, www.mpsge.org
Übung: General Equilibrium Models of Open Economies (WIWI‑C0807)