Simulations in Intermediate Macroeconomics

William Parke, University of North Carolina, Chapel Hill

This site uses the EconModel software (requiring an individual subscription or site licence) to present interactive models along with brief notes, graphs and some printable worksheets. The main content of the site is in three sections: "Classical Models - The Role of Aggregate Supply", "Keynesian Models - The Role of Aggregate Demand" and a historical section. Preview movies show how to use the interactive features of the software.

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Ray C Fair, Yale University
The site enables you to work with a U.S. macroeconometric model or a multicountry econometric model to forecast, do policy analysis, and examine historical episodes. For example, you can change government policy variables and examine the estimated effects of the changes. Menu-driven econometric models of the US economy and of multi-country economies suitable for research, forecasting, policy and teaching purposes are provided. The models run in a web-browser but are also available in downloadable form.
David Wheat, University of Bergen
MacroLab is an interactive computer model of the U.S. economy. It allows you to makes some assumptions about the economy, and then lets you see the implications of your assumptions. For example, you might wonder what would happen to the unemployment rate if consumers suddenly started saving more of their income (and spent less). MacroLab also contains historical data, and you will be able to track the performance of the U.S. economy over recent decades. MacrobLab is produced by David Wheat, Associate Professor of System Dynamics at the University of Bergen, Norway. The website contains further details on downloading, installing and using the MacroLab software.

Study skills for Economics students

Our site Studying Economics has tips including writing and referencing, revision, and help with maths.

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