6 points, SCA Band 3, 0.125 EFTSL
Undergraduate, Postgraduate - Unit
Refer to the specific census and withdrawal dates for the semester(s) in which this unit is offered.
Not offered in 2017
This unit covers the theoretical structure and application of computable general equilibrium (CGE) models. Topics include:
- the derivation of the model's non-linear equation system
- evaluation of coefficients and parameters, model closure, specification of economic shocks, solution techniques and interpretation of results.
During hands-on computing sessions, students will undertake simulations of a series of economic policy questions and analyse results.
The learning goals associated with this unit are to:
- acquire an understanding of the main elements of the theoretical structure of a computable general equilibrium (CGE) model
- acquire an understanding of how a CGE model is calibrated and implemented on computer
- develop the ability to conduct basic simulations with a comparative-static CGE model
- acquire skills in the analysis of the more readily interpretable model results in terms of model theory, data base, closure and shocks
- develop an elementary understanding of the key features of dynamic CGE models.
Within semester assessment: 40% + Examination: 60%
Minimum total expected workload to achieve the learning outcomes for this unit is 144 hours per semester typically comprising a mixture of scheduled learning activities and independent study. Independent study may include associated readings, assessment and preparation for scheduled activities. The unit requires on average three/four hours of scheduled activities per week. Scheduled activities may include a combination of teacher directed learning, peer directed learning and online engagement.
See also Unit timetable information