Economy-wide models are useful tools for investigating the effects of policies with direct and indirect feedback within an economy. These models are based on economic theories and supported by data analytics. Economy-wide models draw from macroeconomic and sectoral national accounts data, supply-use tables and institutional data organized in a social accounting matrix (SAM) format and are informed by empirically derived behavioral rules for consumers, producers, investors, households and governments. They are useful to assess “what if” scenarios involving a variety of policies and shocks. Economy-wide models can shed light on the impacts of policies and shocks on employment, output, national budgets, imports and exports, and consumption patterns, among others.
This Economy-Wide Modelling for Policy Analysis course introduces participants to the ideas and techniques of Computable General Equilibrium (CGE) modelling and equips them to start using and adapting Computable General Equilibrium (CGE) models for their own simulations. The course combines theory, data, and application, with emphasis on hands-on modelling in GAMS.
Who Should Attend this Course?
- Economic planners
- Senior government officials
- Development practitioners
- Policy analysts
- Economic researchers and practitioners who wish to conduct rigorous scientific economy-wide analyses of economic shocks and policies
- Economists needing background in order to work with, or understand results from, atypical CGE model
The course helps participants:
- understand theories that underlie typical Computable General Equilibrium (CGE) models
- have a good understanding of what a CGE model is, and the types of problems for which they can be useful
- understand the general functioning and capabilities of CGE models
- develop an understanding of the structure of standard CGE models
- acquire knowledge of practical examples of the data on which CGEs are built
- run CGE simulations using the GAMS solution software
- develop enough skills in GAMS programming to begin modifying existing models to suit own purposes
- interpret and present CGE simulation results in a comprehensive manner