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Computational Economics: Help for the Underestimated Undergraduate

Author

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  • P. Ruben Mercado
  • David A. Kendrick

Abstract

Our concern in this paper is that the capability of economics undergraduates is substantially underestimated in the design of the present college curriculum and that our students are insufficiently challenged and motivated. Students enter our classrooms with substantial previous knowledge about computers and computation and we are not taking full advantage of this opportunity. We suggest a set of examples from computational economics which are challenging enough to motivate students and simple enough that they can master them within a few hours. By encouraging the students to modify the models in directions of their own interest avenues for creative endeavor are opened which deeply involve the students in their own education.

Suggested Citation

  • P. Ruben Mercado & David A. Kendrick, 2004. "Computational Economics: Help for the Underestimated Undergraduate," Computing in Economics and Finance 2004 71, Society for Computational Economics.
    • Handle: RePEc:sce:scecf4:71
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    File URL: http://repec.org/sce2004/up.26122.1077019392.pdf
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    References listed on IDEAS

    as
    1. Kenneth L. Judd, 1998. "Numerical Methods in Economics," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262100711, December.
    2. Tesfatsion, Leigh & Judd, Kenneth L., 2006. "Handbook of Computational Economics, Vol. 2: Agent-Based Computational Economics," Staff General Research Papers Archive 10368, Iowa State University, Department of Economics.
    3. Mercado, P Ruben & Kendrick, David A & Amman, Hans, 1998. "Teaching Macroeconomics with GAMS," Computational Economics, Springer;Society for Computational Economics, vol. 12(2), pages 125-149, October.
    4. Hans M. Amman & David A. Kendrick, . "Computational Economics," Online economics textbooks, SUNY-Oswego, Department of Economics, number comp1, December.
    5. Joshua M. Epstein & Robert L. Axtell, 1996. "Growing Artificial Societies: Social Science from the Bottom Up," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262550253, December.
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    Cited by:

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    2. Ann L Owen, 2007. "Integrating Computer Applications Into Economics Electives," International Review of Economic Education, Economics Network, University of Bristol, vol. 6(1), pages 77-92.

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    JEL classification:

    • C63 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computational Techniques

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