312210 Advanced Computational Economics (V) (SoSe 2010)

Course Description
Computational economics broadly defined consists of two sub-fields:
(i) Numerical solution of models, that is the computation of general equilibrium and game-theoretic problems. This field can properly be seen as numerical mathematics applied to economics.
(ii) Agent-based modelling and simulation, in which a simulation model represents the interactions of agents in a multi-agent system. This field can be seen as computer science applied to social science problems.

This course deals with the second sub-field of agent-based modelling and simula-
tion. Students can expect to learn about the conceptual and theoretical aspects
of using ABMs in the social sciences.

The course is the counter-part of the ”Master Seminar and Praktikum on
Agent-based Modelling and Simulation” (given simultaneously in Module 18),
in which students can obtain the practical skills of designing, implementing and
analyzing simulation models.

Course Objectives
The objective of this course is to introduce students to the theory and methods
of agent-based computational modelling. The goal is to provide students with
in-depth knowledge of the purpose and use of agent-based techniques, how they
are being used, who uses them, and to what end.

Bibliography

1. Managing Business Complexity: Discovering Strategic Solutions with Agent-
Based Modeling and Simulation, by Michael J. North and Charles M.
Macal, 2007

2. Selected Chapters from the ACE Handbook, by Leigh Tesfatsion and Ken-
neth Judd, 2005. This is a background source for examples of agent-based
models in economics.