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Teaching Agent-Based Computational Economics To Graduate Students

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  • Tesfatsion, Leigh

Abstract

For a postscript copy of this paper, click here. Agent-base computational economics (ACE) is roughly defined as 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 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 course in macroeconomic theory over the past several years, using an ACE labor market framework for concrete illustration.

Suggested Citation

  • Tesfatsion, Leigh, 1998. "Teaching Agent-Based Computational Economics To Graduate Students," Economic Reports 18193, Iowa State University, Department of Economics.
  • Handle: RePEc:ags:iowaer:18193
    DOI: 10.22004/ag.econ.18193
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    More about this item

    Keywords

    Institutional and Behavioral Economics; Teaching/Communication/Extension/Profession;

    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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