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Teaching Agent-Based Computational Economics to Graduate Students

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  • Leigh Tesfatsion

    (Iowa State University)

Abstract

Agent-based computational economics (ACE) is the computational study of economies modelled as evolving decentralized systems of autonomous interacting agents. A key focus of ACE research is understanding how global regularities arise from the bottom up, through the repeated local interactions of autonomous agents channeled through socio-economic institutions, rather than from top down fictitious coordination mechanisms such as imposed market clearing constraints or an assumption of single representative agents. This paper discusses how ACE materials have been introduced into graduate-level courses in macroeconomic theory over the past several years, using an ACE labor market framework for concrete illustration.

Suggested Citation

  • Leigh Tesfatsion, 1998. "Teaching Agent-Based Computational Economics to Graduate Students," Computational Economics 9809001, University Library of Munich, Germany, revised 16 Nov 1998.
    • Handle: RePEc:wpa:wuwpco:9809001
    Note: Type of Document - postscript ; prepared on PC using dvips applied to a PC-LaTeX DVI file; to print on postscript printer (or on any printer after opening with ps reader); pages: 38 ; figures: included
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    More about this item

    Keywords

    agent-based computational economics; evolutionary economics; labor markets; search and matching; C++ framework; evolutionary game; teaching methods;
    All these keywords.

    JEL classification:

    • C8 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs
    • C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
    • D8 - Microeconomics - - Information, Knowledge, and Uncertainty
    • E - Macroeconomics and Monetary Economics
    • J - Labor and Demographic Economics

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