Abstract for: Get Started with Macro Modeling

Want to get started with macroeconomic modeling? Or, just curious about what’s involved? If you teach economics or do economic research, or if you’re an armchair economist who likes to tinker with models, there is something in this workshop for you. You will get a free 30-day version of Stella Architect plus MacroLab's SIMM template. During the workshop, guided instruction will help you use the template to build a simple macro model. Even experts may be interested in how MacroLab handles multiple industry and household types, ensures stock-flow consistency, and links the financial sector with firms, households, and government. Plus, you will learn how to teach others to get started. The model template is a by-product of two decades of teaching macroeconomics and monetary policy and, more recently, developing system dynamics models for economic policy analysis in Ukraine. The workshop will be conducted by a team of three experienced modelers, and you can choose whether to work alone or with a partner.