Abstract for: System Dynamic Representations of Theoretical Macroeconomic Models
Our aim is to develop SD models that are useful for teaching purpose and provide teaching materials for studying complex macroeconomic issues. We developed System Dynamic representations for a range of theoretical macroeconomic models and extended by them the traditional course of Advance Macroeconomics. The course is provided at Ivan Franko National University of Lviv (Ukraine) for Master students that are specialized in Mathematical Economics and Econometrics. The list of models includes Solow Growth model, Ramsey-Cass-Koopmans model, Diamond model, Models of Endogenous Growth with Research and Development sector, Model with Human Capital, Monetary policy model. System dynamic approach has been used for all stages in teaching process. Particularly, at the first stage of studying to introduce model as a system, next for analyzing the dynamics of economic variables in different modes, and finally to obtain conclusions about different policy analysis.