Building and using nonlinear simulations in Excel with an application to the specific factors model.
Excel simulation models have become increasingly common in the economics classroom, as their ability to combine numerical and graphical information has proved a useful support to traditional teaching methods. Recent efforts have tended to embed the solution within the Excel sheet, avoiding the need...
| Published in: | Southern Economic Journal Vol. 89; no. 4; pp. 1242 - 1266 |
|---|---|
| Main Authors: | , , |
| Format: | Article |
| Published: |
Wiley-Blackwell
Apr2023
|
| Subjects: | |
| Online Access: | View this record in EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=162942923&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 162942923 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 00384038 SEJ jtl: Southern Economic Journal issn: 00384038 maglogo: N pubinfo: dt: Apr2023 vid: 89 iid: 4 pid: 480 pub: Wiley-Blackwell artinfo: ui: 162942923 10.1002/soej.12628 ppf: 1242 ppct: 24 formats: fmt: – @attributes: type: T – @attributes: type: C – @attributes: type: P size: 3.1MB tig: atl: Building and using nonlinear simulations in Excel with an application to the specific factors model. aug: au: Gilbert, John Koska, Onur A. Oladi, Reza affil: Department of Economics and Finance, Utah State University, Logan Utah,, USA Department of Economics and Finance, University of Canterbury, Christchurch, New Zealand Department of Applied Economics, Utah State University, Logan Utah,, USA su: International trade Teaching methods Economics education Computer simulation Mathematical ability Numeracy Simulation methods & models sug: subj: International trade Teaching methods Economics education Computer simulation International Trade Financing Mathematical ability Numeracy Simulation methods & models keyword: Excel numerical simulation specific factors model Excel numerical simulation specific factors model ab: Excel simulation models have become increasingly common in the economics classroom, as their ability to combine numerical and graphical information has proved a useful support to traditional teaching methods. Recent efforts have tended to embed the solution within the Excel sheet, avoiding the need to use the Solver add‐in and allowing changes in the exogenous characteristics of the model to be instantly reflected in the numerical solutions and any associated geometry. While this is quite simple in small‐scale linear models, it is less straightforward in larger nonlinear models such as those that dominate the theory of international trade. We discuss various methods that can be used in building Excel simulations when it is not possible to solve the underlying model explicitly. We illustrate the ideas and describe our experiences along with a new simulation of the specific factors model. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
|---|