Skip to main content

Introduction to Economic Equilibrium Analysis
(Short Summer Course - Tuesday, July 20, 2021)

Overview

  1. Calibrated choice (applied microeconomics)
    • Background reading for this lecture includes selected chapters from Varian's undergraduate and graduate textbooks and Rutherford's papers and lecture notes on CES functions.
  2. Scalar algebraic modeling with GAMS (MCP and CNS)
    1. Getting started with GAMS Studio
    2. Theory with numbers applications:
      • simple closed economy model
      • open economy model
      • multiregional model

Additional Materials

  1. General-Equilibrium Modeling using GAMS and MPS/GE: Some Basics (Chapter 1 by Jim Markusen)
  2. Extensions of the Simple Model (Chapter 2 by Jim Markusen)
  3. The basic closed-economy general- equilibrium model as an MCP (Slides by Jim Markusen)
  4. Computational Experience in Solving Equilibrium Models by a Sequence of Linear Complementarity Problems (paper by Lars Mathiesen, 1984)

Lecture Notes

  1. Getting Started with Market Equilibrium Models
  2. Yet More with Market Equilibrium Models
  3. Lecture notes on Linear Programming (1)
  4. Lecture notes on Linear Programming (2)

GAMS Code for Models

tuesday_models.zip

Modeling Exercise

hw2.pdf | hw2sol.pdf | hw2sol.txt -- Please convert the text file to a GAMS file (hw2sol.gms).

Recordings

  1. Tuesday morning -- first session
  2. Tuesday morning -- second session
  3. Tuesday afternoon -- first session
  4. Tuesday afternoon -- second session