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Exploring Economic Models Using Excel

Author

Listed:
  • Miles Cahill
  • George Kosicki

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.

Suggested Citation

  • Miles Cahill & George Kosicki, 2000. "Exploring Economic Models Using Excel," Southern Economic Journal, Southern Economic Association, vol. 66(3), pages 770-792, January.
  • Handle: RePEc:sej:ancoec:v:66:3:y:2000:p:770-792
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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, vol. 18(1), pages 29-33.
    2. Arthur Caplan & John Gilbert, 2006. "Interactive Scenario Analysis of Exhaustible Resource Problems," Computers in Higher Education Economics Review, Economics Network, University of Bristol, vol. 18(1), pages 4-9.
    3. Holger Strulik, 2004. "Solving Rational Expectations Models Using Excel," The Journal of Economic Education, Taylor & Francis Journals, vol. 35(3), pages 269-283, July.
    4. Charles E. Hegji, 2000. "Demonstrating Cournot and Collusive equilibria using computer spreadsheets," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 21(7), pages 305-312.
    5. 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.

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