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Semester | spring semester 2019 |
Course frequency | Every spring sem. |
Lecturers | Dietmar Maringer (dietmar.maringer@unibas.ch, Assessor) |
Content | The term "Computational Economics" covers a wide array of methods and concepts, ranging from "traditional" numerical techniques to advanced simulations of complex economic systems, and anything in between. According, this course will also offer some long-established techniques that any economist should have in their toolbox, but will also look at some more recent, innovative contributions. Building and expanding on the course "Computational Economics", the first part of this course will present some additional numerical for dealing with standard numerical problems and questions. In the second part, however, strong emphasis will be given to complex systems: to understand situations where cause-effect relationships are increasingly replaced with butterfly effects, feedback-loops and self-fulfilling prophecies, where adaptive heterogenous agents dynamically adjust their behaviour and a crisis can emerge for no apparent reason, innovative approaches are necessary. Therefore, approaches like agent-based simulation network analysis will be presented. Again, special attention will be given to implementations and hands-on experiments. |
Learning objectives | Successful participants should be familiar with innovative numerical methods, necessary to approach and solve quantitative problems in economics and business. Also, they will improve their programming skills to implement economic / management models and the necessary methods. |
Bibliography | there is no designated textbook, but to get a flavor of the topics or to deepen their knowledge, (prospective) participants might find the following books helpful: Tesfatsion, L. & Judd, K. J. (Eds.) Handbook of Computational Economics Vol. 2: Agent-Based Computational Economics North-Holland, 2006 Hommes, C. Behavioral Rationality and Heterogeneous Expectations in Complex Economic Systems Cambridge University Press, 2013 Gilli, M.; Maringer, D. & Schumann, E. Numerical Methods and Optimization in Finance, Academic Press, 2011 Easley, D. & Kleinberg, J. Networks, Crowds and Markets. Reasoning about a Highly Connected World Cambridge University Press, 2010 Jackson, M. O. Social and Economic Networks Princeton University Press, 2008 |
Comments | Basic Matlab skills are required. |
Weblink | Weblink |
Admission requirements | Prerequisites: Completed Bachelor in Business and Economics and 23525 Computational Economics |
Course application | Course registration: please enrol in MOnA; Registration = Enrolment to the exam. A deregistration is possible by email to Studiendekanat-wwz@unibas.ch until 3 May 2019, 8 pm. |
Language of instruction | English |
Use of digital media | No specific media used |
Interval | Weekday | Time | Room |
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No dates available. Please contact the lecturer.
Modules |
Module: Interdisciplinary and Transfer of Knowledge (Master's Studies: Actuarial Science) Module: Non-Life Insurance (Master's Studies: Actuarial Science) Module: Risk Analysis (Master's Studies: Actuarial Science) Specialization Module: Areas of Specialization in International and/or Monetary Economics (Master's Studies: International and Monetary Economics) Specialization Module: Quantitative Methods (Master's Studies: Business and Economics) |
Assessment format | end-of-semester examination |
Assessment details | active participation, assignments, and written final exam. written exam: 24.05.19; 10:15-11:15. WWZ Audi: A-Z. |
Assessment registration/deregistration | Reg.: course registr.; dereg.: Office of the Dean of Studies |
Repeat examination | no repeat examination |
Scale | 1-6 0,1 |
Repeated registration | as often as necessary |
Responsible faculty | Faculty of Business and Economics , studiendekanat-wwz@unibas.ch |
Offered by | Faculty of Business and Economics |