Computational economics

Computational economics
GDP PPP Per Capita IMF 2008.svg
General categories
Microeconomics · Macroeconomics
History of economic thought
Methodology · Mainstream & heterodox
Technical methods
Mathematical economics
Game theory  · Optimization
Computational · Econometrics
Experimental · National accounting
Fields and subfields

Behavioral · Cultural · Evolutionary
Growth · Development · History
International · Economic systems
Monetary and Financial economics
Public and Welfare economics
Health · Education · Welfare
Population · Labour · Managerial
Business · Information
Industrial organization · Law
Agricultural · Natural resource
Environmental · Ecological
Urban · Rural · Regional · Geography


Journals · Publications
Categories · Topics · Economists

Business and Economics Portal
This box: view · talk · edit

Computational economics is a research discipline at the interface between computer science and economic and management science.[1] Areas encompassed include agent-based computational modeling,[2] computational modeling of dynamic macroeconomic systems and transaction costs, other applications in mathematical economics,[3] computational econometrics and statistics,[4] computational finance, computational tools for the design of automated Internet markets, programming tools specifically designed for computational economics, and pedagogical tools for the teaching of computational economics. Some of these areas are unique to computational economics, while others extend traditional areas of economics by solving problems that are difficult to study without the use of computers. [5]

Computational economics researchers use computational tools both for computational economic modeling and for the computational solution of analytically and statistically formulated economic problems. An important example is agent-based computational economics (ACE) is the computational study of economic processes modeled as dynamic systems of interacting agents. Here "agent" refers broadly to a bundle of data and behavioral methods representing an entity constituting part of a computationally constructed world. Agents can represent social, biological, and/or physical entities. Starting from initial conditions determined by the modeler, an ACE model develops forward through time driven solely by agent interactions.[6]

Computational solution tools include for example software for carrying out various matrix operations (e.g. matrix inversion) and for solving systems of linear and nonlinear equations. For a repository of public-domain computational solution tools, visit here.

The following journals specialize in computational economics: Computational Economics[1], Journal of Applied Econometrics[7],Journal of Economic Dynamics and Control, and the Journal of Economic Interaction and Coordination[8].


  1. ^ a b "Computational Economics". 2011 [last update]. Retrieved October 31, 2011. 
  2. ^ Scott E. Page, 2008. "agent-based models," The New Palgrave Dictionary of Economics, 2nd Edition. Abstract.
  3. ^ The New Palgrave Dictionary of Economics, 2008. 2nd Edition:
      • "computation of general equilibria" by Herbert E. Scarf. Abstract.
      • "computation of general equilibria (new developments)" by Felix Kubler. Abstract.
      • "computer science and game theory" by Joseph Y. Halpern. Abstract.
      • "numerical optimization methods in economics" by Karl Schmedders. Abstract.
  4. ^ • Vassilis A. Hajivassiliou (2008). "computational methods in econometrics," The New Palgrave Dictionary of Economics, 2nd Edition. Abstract.
      • Keisuke Hirano (2008). "decision theory in econometrics," The New Palgrave Dictionary of Economics, 2nd Edition. Abstract.
  5. ^ • Hans M. Amman, David A. Kendrick, John Rust, ed., 1996. Handbook of Computational Economics, v. 1. Description & chapter-preview links.
      • Kenneth Judd, 1998. Numerical Methods in Economics, MIT Press. Links to description and chapter previews.
  6. ^ Leigh Tesfatsion and Kenneth Judd, ed., 2006. Handbook of Computational Economics, v. 2. Description & and chapter-preview links.
  7. ^ "Journal of Applied Econometrics - Wiley Online Library". 2011 [last update]. Retrieved October 31, 2011. 
  8. ^ "Journal of Economic Interaction and Coordination". 2011 [last update]. Retrieved October 31, 2011. 


External links

Wikimedia Foundation. 2010.

Look at other dictionaries:

  • Agent-Based Computational Economics — (ACE) is the computational study of economic processes modeled as dynamic systems of interacting agents.OverviewThe agents in ACE models can represent individuals (e.g. people), social groupings (e.g. firms), biological entities (e.g. growing… …   Wikipedia

  • Computational — may refer to: Computer Computational algebra Computational Aeroacoustics Computational and Information Systems Laboratory Computational and Systems Neuroscience Computational archaeology Computational auditory scene analysis Computational biology …   Wikipedia

  • Computational intelligence — (CI) is a set of Nature inspired computational methodologies and approaches to address complex problems of the real world applications to which traditional (first principles, probabilistic, black box, etc.) methodologies and approaches are… …   Wikipedia

  • Computational science — Not to be confused with computer science …   Wikipedia

  • Economics — This article is about the social science. For other uses, see Economics (disambiguation). For a topical guide to this subject, see Outline of economics. Economics …   Wikipedia

  • Economics of global warming — This article describes the economics of global warming and climate change. Contents 1 Definitions 2 Climate change science 3 Scenarios 4 Trends and projections …   Wikipedia

  • Computational finance — Computational finance, also called financial engineering, is a cross disciplinary field which relies on computational intelligence, mathematical finance, numerical methods and computer simulations to make trading, hedging and investment decisions …   Wikipedia

  • Computational elasticity — In economics, elasticity is the ratio of the percent change in one variable to the percent change in another variable. Computational elasticity is the application of this concept to how computer systems scale with relation to temporal monetary… …   Wikipedia

  • Computational sociology — Sociology …   Wikipedia

  • Computational informatics — Informatics is the academic field concerned with the study of the foundations, theory, structure, communication, and use of information. Computational informatics, as a subfield of informatics, studies information using computational… …   Wikipedia

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”

We are using cookies for the best presentation of our site. Continuing to use this site, you agree with this.