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EconModel

Betty J. Blecha, San Francisco State University
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Summary

Econ Models
This site contains 21 modular, easy to use economic models, that are appropriate for class assignments or in-class demonstrations. Students can simulate all the standard models taught in most economics courses. EconModel uses the Windows OS. The simulations were developed by William R. Parke of the University of North Carolina at Chapel Hill.




Learning Goals

The primary goal of the EconModel website is to show students how to "think like an economist." Each of the models allows students to change parameters and observe the resulting changes in a model's endogenous variables. For an example of how the models work, look at the screen cast of the Cobweb model.

Context for Use

Given the variety of models available from EconModel, an instructor should go to the model listing web page and evaluate the models that may be appropriate for the instructor's course. There are several screen cast presentations and some free models. EconModel is a subscription site. The annual subscription fee for both instructors and students is $21 per year.

Description and Teaching Materials

Each of the models comes with a full discussion of the model's structure. Textbook references and other links associated with a model are often given in the model discussion.

TIME REQUIREMENTS:
Given the great variability in the complexity of the models and how an instructor chooses to use any given model, it is not possible to give approximate time requirements. With these caveats, most of the models can be used to structure a 50 minute class period.

Teaching Notes and Tips

The most effective use of a model in the EconModel set will depend on linking the model to the text the students are using and to the instructor's lecture. An instructor will have to decide whether or not to have students subscribe to EconModel, and use the models for homework and assignments. EconModel is also well worth checking out as a source of Interactive-Lecture-Demonstration (link when available) examples for class discussion.

Assessment

All traditional assessment tools can be used. For more information about assessment, see the SERC assessment module.

References and Resources

The text that students are using in the course.

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