The course aims at providing students with first exposure to some of the most relevant quantitative methods for economic policy analysis.
The objective is to engage students in an active, team-based process of learning about computable general equilibrium (CGE) models and their use in applied economic policy analysis. The course emphasizes an intuitive and graphical treatment of economic theory in the CGE model and provides structured experiences in running the RunGTAP software environment. RunGTAP is an intuitive, menu-driven CGE model interface that minimizes technological hurdles and allows students to quickly begin to focus on their economic thinking and experimentation. At the end of the course, participants will be entry-level modellers and more informed consumers of CGE-based analyses.
During the course, students will:
• review core economic theories from micro, macro, trade, and public finance and observe how they are operationalized in an applied general equilibrium model
• learn to recognize, control, and interpret the theoretically consistent behavior of consumers and producers
• observe the aggregated, macroeconomic impacts of microeconomic behavior
• define model experiments that represent real-world issues
• learn to interpret general equilibrium model results by integrating their knowledge of multiple fields of economic study
The objective is to engage students in an active, team-based process of learning about computable general equilibrium (CGE) models and their use in applied economic policy analysis. The course emphasizes an intuitive and graphical treatment of economic theory in the CGE model and provides structured experiences in running the RunGTAP software environment. RunGTAP is an intuitive, menu-driven CGE model interface that minimizes technological hurdles and allows students to quickly begin to focus on their economic thinking and experimentation. At the end of the course, participants will be entry-level modellers and more informed consumers of CGE-based analyses.
During the course, students will:
• review core economic theories from micro, macro, trade, and public finance and observe how they are operationalized in an applied general equilibrium model
• learn to recognize, control, and interpret the theoretically consistent behavior of consumers and producers
• observe the aggregated, macroeconomic impacts of microeconomic behavior
• define model experiments that represent real-world issues
• learn to interpret general equilibrium model results by integrating their knowledge of multiple fields of economic study
Curriculum
teacher profile teaching materials
Students download and familiarize themselves with the course website, material, and software
Week 2 - Database of a CGE Model (Social Accounting Matrix - SAM)
Introduction to the GTAP SAM and RunGTAP Model
Week 3 - Demand
Introduction to Final Demand and Import Demand in the Model
Change Closures and Elasticities
Week 4 - Supply and Factor Markets
Introduction to Production in the Model
Week 5 - Trade and Welfare
Introduction to Taxes and Welfare in the Model
Week 6 - Group Research Project
Hands-on opportunity to carry out a model experiment and analyze its economy-wide effects: trade in value added, regional trade agreements, multilateral liberalization, preferential policies, climate change policies
Week 7 - Wrap-Up
Final discussions about Reporting and interpreting the results
Corong, E., Hertel, T., McDougall, R., Tsigas, M., van der Mensbrugghe, D. (2017). The Standard GTAP Model, Version 7, Journal of Global Economic Analysis, 2(1), 1-119 (https://www.jgea.org/ojs/index.php/jgea/article/view/47/30 )
Hertel T. W. (2012). Global Applied General Equilibrium Analysis using the GTAP Framework. GTAP Working Paper No. 66 (https://www.gtap.agecon.purdue.edu/resources/res_display.asp?RecordID=3751 )
Programme
Week 1 - Getting StartedStudents download and familiarize themselves with the course website, material, and software
Week 2 - Database of a CGE Model (Social Accounting Matrix - SAM)
Introduction to the GTAP SAM and RunGTAP Model
Week 3 - Demand
Introduction to Final Demand and Import Demand in the Model
Change Closures and Elasticities
Week 4 - Supply and Factor Markets
Introduction to Production in the Model
Week 5 - Trade and Welfare
Introduction to Taxes and Welfare in the Model
Week 6 - Group Research Project
Hands-on opportunity to carry out a model experiment and analyze its economy-wide effects: trade in value added, regional trade agreements, multilateral liberalization, preferential policies, climate change policies
Week 7 - Wrap-Up
Final discussions about Reporting and interpreting the results
Core Documentation
Burfisher, M. (2021). Introduction to Computable General Equilibrium Models. Cambridge: Cambridge University Press.Corong, E., Hertel, T., McDougall, R., Tsigas, M., van der Mensbrugghe, D. (2017). The Standard GTAP Model, Version 7, Journal of Global Economic Analysis, 2(1), 1-119 (https://www.jgea.org/ojs/index.php/jgea/article/view/47/30 )
Hertel T. W. (2012). Global Applied General Equilibrium Analysis using the GTAP Framework. GTAP Working Paper No. 66 (https://www.gtap.agecon.purdue.edu/resources/res_display.asp?RecordID=3751 )
Type of delivery of the course
Lecture slides and other teaching material will be downloadable from the course website. Students are expected to use personal PCs during the lectures.Type of evaluation
The course assessment will be based on a written exam. Students attending the class will have the possibility to substitute the final exam with an oral discussion of the Group Research Project teacher profile teaching materials
Students download and familiarize themselves with the course website, material, and software
Week 2 - Database of a CGE Model (Social Accounting Matrix - SAM)
Introduction to the GTAP SAM and RunGTAP Model
Week 3 - Demand
Introduction to Final Demand and Import Demand in the Model
Change Closures and Elasticities
Week 4 - Supply and Factor Markets
Introduction to Production in the Model
Week 5 - Trade and Welfare
Introduction to Taxes and Welfare in the Model
Week 6 - Group Research Project
Hands-on opportunity to carry out a model experiment and analyze its economy-wide effects: trade in value added, regional trade agreements, multilateral liberalization, preferential policies, climate change policies
Week 7 - Wrap-Up
Final discussions about Reporting and interpreting the results
Corong, E., Hertel, T., McDougall, R., Tsigas, M., van der Mensbrugghe, D. (2017). The Standard GTAP Model, Version 7, Journal of Global Economic Analysis, 2(1), 1-119 (https://www.jgea.org/ojs/index.php/jgea/article/view/47/30 )
Hertel T. W. (2012). Global Applied General Equilibrium Analysis using the GTAP Framework. GTAP Working Paper No. 66 (https://www.gtap.agecon.purdue.edu/resources/res_display.asp?RecordID=3751 )
Mutuazione: 21210417 Policy evaluation lab in Economia dell'ambiente, lavoro e sviluppo sostenibile LM-56 SALVATICI LUCA
Programme
Week 1 - Getting StartedStudents download and familiarize themselves with the course website, material, and software
Week 2 - Database of a CGE Model (Social Accounting Matrix - SAM)
Introduction to the GTAP SAM and RunGTAP Model
Week 3 - Demand
Introduction to Final Demand and Import Demand in the Model
Change Closures and Elasticities
Week 4 - Supply and Factor Markets
Introduction to Production in the Model
Week 5 - Trade and Welfare
Introduction to Taxes and Welfare in the Model
Week 6 - Group Research Project
Hands-on opportunity to carry out a model experiment and analyze its economy-wide effects: trade in value added, regional trade agreements, multilateral liberalization, preferential policies, climate change policies
Week 7 - Wrap-Up
Final discussions about Reporting and interpreting the results
Core Documentation
Burfisher, M. (2021). Introduction to Computable General Equilibrium Models. Cambridge: Cambridge University Press.Corong, E., Hertel, T., McDougall, R., Tsigas, M., van der Mensbrugghe, D. (2017). The Standard GTAP Model, Version 7, Journal of Global Economic Analysis, 2(1), 1-119 (https://www.jgea.org/ojs/index.php/jgea/article/view/47/30 )
Hertel T. W. (2012). Global Applied General Equilibrium Analysis using the GTAP Framework. GTAP Working Paper No. 66 (https://www.gtap.agecon.purdue.edu/resources/res_display.asp?RecordID=3751 )
Type of delivery of the course
Lecture slides and other teaching material will be downloadable from the course website. Students are expected to use personal PCs during the lectures.Type of evaluation
The course assessment will be based on a written exam. Students attending the class will have the possibility to substitute the final exam with an oral discussion of the Group Research Project