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Exploring Economic Models Using Excel

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  • Miles Cahill
  • George Kosicki
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    Abstract

    This paper applies spreadsheet software to intermediate-level consumer theory concepts. Spreadsheets help make the concepts more accessible while allowing students to explore the ideas in more depth. Areas of application are utility functions, income and substitution effects, price indices, measures of welfare change, and the optimal saving rate. We chose the examples to stimulate awareness and discussion of the many classroom uses for four important Excel spreadsheet tools: three-dimensional (3-D) graphs, iteration, Goal Seek, and Solver.

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    Bibliographic Info

    Article provided by Southern Economic Association in its journal Southern Economic Journal.

    Volume (Year): 66 (2000)
    Issue (Month): 3 (January)
    Pages: 770-792

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    Handle: RePEc:sej:ancoec:v:66:3:y:2000:p:770-792

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    Web page: http://www.southerneconomic.org/
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    Cited by:
    1. Reza Oladi & John Gilbert, 2006. "A Simulation Experiment of a Customs Union," Computers in Higher Education Economics Review, Economics Network, University of Bristol, Economics Network, University of Bristol, vol. 18(1), pages 29-33.
    2. Axelsen, Dan & Snarr, Hal W. & Friesner, Dan, 2009. "Teaching consumer theory to business students: an integrative approach," MPRA Paper 37249, University Library of Munich, Germany.
    3. Charles E. Hegji, 2000. "Demonstrating Cournot and Collusive equilibria using computer spreadsheets," Managerial and Decision Economics, John Wiley & Sons, Ltd., John Wiley & Sons, Ltd., vol. 21(7), pages 305-312.

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