Simulations in Intermediate Macroeconomics
A macroeconomic simulation game intended for education and training, Rolesia can be used from desktop, tablet and smartphone platforms. Each player gets a virtual country using a 130-variable model. The model includes a national budget, a stock market, international currency trading and central banking, among other aspects. The tutor can choose the level of complexity of the choices made, and can opt for a simuation of the US economy. The software comes in two online versions. The free version includes most of the features of the paid version and can be used for ten days. The paid version allows some additional complexity options and additional choices including Quantitative Easing.
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.
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.