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New Uses for Spreadsheets in Intermediate Macroeconomics: Dynamic Neoclassical and New Keynesian Models

Author

Listed:
  • Miles Cahill

    () (Department of Economics, College of the Holy Cross)

  • George Kosicki

    () (Department of Economics, College of the Holy Cross)

Abstract

Because modern macroeconomics is by nature dynamic, the mathematics involved are often difficult for undergraduate students to grasp. Unfortunately, numerical examples that are helpful in clarifying other technical areas of economics are very time consuming and even intractable when using pen, paper and calculator. This paper introduces spreadsheet applications that solve a large variety of numerical exercises for two types of dynamic macroeconomic models. These applications revolve around a neoclassical (Solow) growth model, and a new Keynesian IS-LM/AS-AD model. As one of the exercises, the AS-AD model is modified to incorporate the neoclassical assumptions of the permanent income hypothesis and rational expectations.

Suggested Citation

  • Miles Cahill & George Kosicki, 2000. "New Uses for Spreadsheets in Intermediate Macroeconomics: Dynamic Neoclassical and New Keynesian Models," Working Papers 0001, College of the Holy Cross, Department of Economics.
  • Handle: RePEc:hcx:wpaper:0001
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    File URL: http://econltsn.ilrt.bris.ac.uk/cheer/ch14_2/cahill.htm
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    More about this item

    Keywords

    economics; teaching; computer software; spreadsheet; Microsoft Excel;

    JEL classification:

    • A20 - General Economics and Teaching - - Economic Education and Teaching of Economics - - - General
    • C88 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Other Computer Software

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