Advanced Techniques in General Equilibrium Modeling using GAMS
Who is this course for?
Advanced Techniques in General Equilibrium Modeling with GAMS would be beneficial for economists, researchers, and policymakers who are interested in deepening their understanding of general equilibrium modeling and its practical applications. It's particularly useful for those who work in areas such as macroeconomics, trade theory, public finance, and environmental economics.
Benefits:
- Specialized Knowledge: Gain a deep understanding of general equilibrium modeling, which is crucial for many economic analyses and policy decisions.
- Practical Skills: Learning to use GAMS (General Algebraic Modeling System) equips you with a powerful tool for modeling complex economic systems and analyzing various scenarios.
- Policy Impact: With advanced modeling skills, you can contribute more effectively to policy discussions and decision-making processes, especially in areas like trade, taxation, and environmental regulation.
The course will introduce all the basic tools for constructing and implementing large-scale multi-national and multi-sectoral dynamic intertemporal general equilibrium models for policy analysis. By the end of the course the participants will have acquired detailed knowledge of and extensive hands-on experience in:
- the structure of dynamic models,
- building the database for such models,
- introducing imperfect competition in the models,
- building dynamic intertemporal models,
- introducing forward-looking expectations,
- building regional and multinational intertemporal models,
- implementing the model on the computer using the GAMS software,
- advanced features of the GAMS software,
- formulating scenarios and running policy simulations,
- reporting and interpreting the results.
The course uses a practical and very intensive approach to model building. The participants will actually build the model step-by-step with guidance from the instructors: from small to large scale and from simple to complex structure. The participants will acquire extensive practical hands-on experience in building a complex, large-scale model. This will allow them to easily implement the first version of their own model using the GAMS codes of EcoMod.