Modeling with Impact

Introduction to General Equilibrium Modeling Using GAMS

This is an intensive, introductory-level course designed for individuals with little or no prior experience in modeling and GAMS. While the course is entry-level, it does assume a basic understanding of theoretical concepts and mathematical skills. Participants should be comfortable with foundational economic principles and basic mathematics to fully benefit from the hands-on training provided.

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Course objective: 

The course will introduce all the basic tools for constructing and implementing large-scale applied 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 open economy general equilibrium models,
  • building the database for such models,
  • building social accounting matrices,
  • calibrating a CGE model,
  • formulating a CGE model as a non linear programming problem,
  • formulating a CGE model as a mixed complementarity problem,
  • implementing the model on the computer using the GAMS software,
  • using the solvers CONOPT, MINOS, PATH, and PATHNLP,
  • modeling the labor market,
  • formulating scenarios and running policy simulations,
  • reporting and interpreting the results,
  • linking GAMS and Excel for reading and reporting data
Methodology: 

The course uses a practical and very intensive approach to model building. The participants will actually build the model EcoMod 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.

 

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