Simulation Methodologies and Tools

摘要

In the following example, a simulation tool was used to extend a fundamental (static) model of macroeconomics. The example is not intended to be comprehensive, however, it demonstrates the capacity of the tool and a methodlogy being promoted by the author. This may be relevant ot policy/decision makers in developing economies and enterprises, due to the predictive capacity of simulations. While not a part of this example, a model has been prepared to simulate industrial marketplaces in which firms adjust participation, price and quantity to market demand, competition and cost considerations. This is relevant to Industrial Engineering decisions as well as policy matters. The tools and methods could have a great impact on curricula in economics and business, as perspectives from modeling and simulations provide an enhanced undestanding of systemic behaviors of market economies.