Simulations in Advanced Macroeconomics
MacroLab is an interactive computer model of the U.S. economy. It allows you to makes some assumptions about the economy, and then lets you see the implications of your assumptions. For example, you might wonder what would happen to the unemployment rate if consumers suddenly started saving more of their income (and spent less). MacroLab also contains historical data, and you will be able to track the performance of the U.S. economy over recent decades. MacrobLab is produced by David Wheat, Associate Professor of System Dynamics at the University of Bergen, Norway. The website contains further details on downloading, installing and using the MacroLab software.