Macroeconomics Apps
Hover over the cards below for details:
IS Model
Carsten Lange
This application simulates the goods market of a closed economy with autonomous taxes.
Instructors can use it to teach the model and students can explore how the model reacts to parameter changes.
Type of Simulation: Runs directly in browser
IS Model (cont.)
The user can change the parameters of the consumption function,investment function, autonomous taxes and government expenditures. After an exogenous shock has moved the IS-Curve, the user can increase income to model the multiplier of the goods market.
The app also introduces the adjustment (multiplier) process in a pseudo-dynamic way.
Money Creation
Carsten Lange
The simulation provides an accounting framework that can be used to simulate various scenarios of money creation (introduced with videos). The user can select certain actions and can see how the accounts change and money is created.
Type of Simulation: Runs directly in browser
Money Creation (cont.)
Scenarios are:
- Only one bank without considering currency holdings
- A multi bank system
- not considering the transfer of base money between banks
- considering the transfer of base money between banks
- considering the transfer of base money between banks and cash withdrawals of non-banks
MAKROMAT
Stefan Kooths, Kiel Institute for the World Economy (IfW Kiel)
Simulation tool for macroeconomic modelling.
Type of Simulation: executable for Windows and Mac
ECOCHRON
Stefan Kooths, Kiel Institute for the World Economy (IfW Kiel)
Hypertext system (in German) that traces the history of economic thought via its main researchers, schools and theories
Type of Simulation: executable for Windows and Mac