NIFK14018U  Applied General Equilibrium Analysis

Volume 2017/2018
Education

MSc Programme in Agricultural Economics
MSc Programme in Environmental and Natural Resource Economics

Content

This course introduces students to computable general equilibrium modeling in the form of interregional input-output models. Computable general equilibrium models are widely used around the world within academia, consulting, international and national institutions and NGOs. Interregional input-output models are used to study the spill-over and feedback mechnism in complex regional and local economies and can be used to forecast and to evaluate impacts of changes in regional economic policies and shocks. The interregional input-output model focuses on the complex pattern of feed-back and spillover mechanism in regional and local economic systems. The simple interregional model, which will be developed through the course, have a simple production and consumption structure and does not take into account impacts from changing prices.

The course aims at providing the student basic knowledge of and ability to build and work with economic models. This involves building data, model calibration and replication and in turn to use the model for projections, impact assessment or multiplier experiments. Through a mix of lectures focusing on the technical and theoretical basis for modeling with interregional input-output models and exercises with a simple interregional model for Denmark, which is developed and made operational during the course, the course will develop the student's skills to conduct own empirical analysis and practical activitities i relation to application of economic models.

The course enables the student to develop the model to include more complexity in the local economic system as well as to include environmental and food production modules in the model.

 

Learning Outcome

The course aims at imparting to the students a thorough understanding of general equilibrium modeling, how these models are use in policy and the ability to undertake own model simulation. After completing the course it is expected that the student is able to:

Knowledge:

  • Reflect about strength and weaknesses’ of the interregional input-output method
  • Reflect about the theory behind most interregional input-output models
  • Reflect about the importance of the data used in interregional input-outputmodels.

 

Skills:

  • Formulate and run scenarios using interregional input-output models
  • Interpret model result.

 

Competencies:

  • Understand the basic step in using interregional input-output models
  • Understand model results and its dependence of theory and data used
  • Undertake a critical view on existing interregional input-output work.

 

Will be announced at the beginning of the course on Absalon

competences corresponding to
- Basic microeconomics: Production economics and consumer behavior
- An understanding of key national accounts concepts
- Calculus
A mix of lectures and exercises
Credit
7,5 ECTS
Type of assessment
Oral examination, 20 - 30 minutes
The oral exam is based on the written report on a case selected by the student. The project work can be done in groups but the oral exam is individual.

No time for preparation.

Oral examination, 20 - 30 minutes
Exam registration requirements

A written report on a case selected by the student should be handed in.

Aid
Written aids allowed
Marking scale
7-point grading scale
Censorship form
No external censorship
More than one internal examiner
Re-exam

Oral exam based on the written report from a case selected by the student.

If the student has not passed the exam registration requirement of successful completion of the written project, then the project must be handed in two weeks prior to the re-exam. It must be approved before the exam.

Criteria for exam assesment

See the Learning Outcome.

  • Category
  • Hours
  • Lectures
  • 42
  • Exercises
  • 42
  • Project work
  • 52
  • Preparation
  • 70
  • Total
  • 206