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  • Agent-Based Economic Modeling Using Python

Agent-Based Economic Modeling Using Python

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Intensive and hands-on course at the introductory level.

The course is aimed at participants who have no or little experience with agent-based modeling but have knowledge of programming in python.

Course objective: 

By the end of the course the participants will have acquired detailed knowledge of and hands-on experience in:

  • Python
  • How to formulate research questions for agent-based models
  • How to write agent-based models
  • How to create firm agents
  • How to create household agents
  • Different behavioral approaches to agents' behavior such as
  • Maximizing agents
  • Agents acting according to behavioral heuristics
  • Machine learning and other behavioral approaches
  • How to structure them for extensionality
Methodology: 

The course will be hands-on and structured around the creation of models. On day one, we will implement the simplest possible economic model where agents only trade. From day 2 to day 4 we will progressively build an economy with:

  1. Production firms
  2. Consumers
  3. Workers
  4. Firm to firm trade
  5. A circular economy

The students will have created a model economy that can be extended to their research and analyzed to answer questions they are interested in.

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