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| Semester | spring semester 2021 |
| 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. While the course “23525 Computational Economics” looked mainly into established techniques that any economist should have in their toolbox, this course will recent contributions. Building and expanding on the course "Computational Economics", the first part of this course will look into meta-heuristics and artificial intelligence (AI) inspired concepts for optimization where traditional (deterministic) methods struggle. In the second part covers methods for modelling and analysing complex and adaptive systems in an economic context. Real world situations often exhibit heterogeneity, butterfly effects, self-organization or critical situations that are difficult to analyse with traditional economic approaches. Agent-based Modelling and agent-based simulation are increasingly used in this context, and the course addresses how these can be setup, implemented, and analysed. |
| Learning objectives | Successful participants should be familiar with recent methods for demanding optimization and simulation problems. Also, they will improve their programming skills with special emphasis on the implementation of economic / management models and related methods. |
| Bibliography | Lecture material will be provided. 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 (in alphabetical order) helpful: *) Brabazon, A.; O'Neill, M. & McGarraghy, S. Natural Computing Algorithms, Springer, 2015 *) Easley, D. & Kleinberg, J. Networks, Crowds and Markets. Reasoning about a Highly Connected World Cambridge University Press, 2010 *) Gilli, M.; Maringer, D. & Schumann, E. Numerical Methods and Optimization in Finance, Academic Press, 2nd ed. 2019 (or 1st ed. 2011). *) Hommes, C. Behavioral Rationality and Heterogeneous Expectations in Complex Economic Systems Cambridge University Press, 2013 *) Jackson, M. O. Social and Economic Networks Princeton University Press, 2008 *) Tesfatsion, L. & Judd, K. J. (Eds.) Handbook of Computational Economics Vol. 2: Agent-Based Computational Economics North-Holland, 2006 Specific recommendations and additional literature to be announced during the course. |
| Weblink | Weblink |
| Admission requirements | *) Completed Bachelor in Business and Economics and *) 23525 Computational Economics *) Basic Python skills. |
| 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 May 7, 2021, 8 pm. |
| Language of instruction | English |
| Use of digital media | Online course |
| Interval | Weekday | Time | Room |
|---|---|---|---|
| wöchentlich | Friday | 10.15-14.00 | - Online Präsenz - |
| Comments | The course will be taught online at the dates you can see below: |
| Date | Time | Room |
|---|---|---|
| Friday 23.04.2021 | 10.15-14.00 | - Online Präsenz -, -- |
| Friday 30.04.2021 | 10.15-14.00 | - Online Präsenz -, -- |
| Friday 07.05.2021 | 10.15-14.00 | - Online Präsenz -, -- |
| Friday 14.05.2021 | 10.15-14.00 | Auffahrt |
| Friday 21.05.2021 | 10.15-14.00 | - Online Präsenz -, -- |
| Friday 28.05.2021 | 10.15-14.00 | - Online Präsenz -, -- |
| Friday 04.06.2021 | 10.15-14.00 | - Online Präsenz -, -- |
| 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 | Combination of active participation, assignment(s) and final exam. written exam: 22.06.21; 10:15-11:00. The exam will take place at WWZ. In case COVID-19 protective measures prevent examination on site, the faculty reserves the right to conduct the examination electronically during the same time slot. You will receive details of the on-site examinations (Exhibition Center or WWZ) by email approximately one week before the examination date. |
| 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 |