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Introduction to Computable General Equilibrium (CGE) Models
Rating: 4.0 out of 5(46 ratings)
2,130 students

Introduction to Computable General Equilibrium (CGE) Models

Unlock the fundamentals of CGE modeling to analyze and predict economic scenarios with real-world applications.
Created bySherif Hassan
Last updated 10/2024
English
English [Auto],

What you'll learn

  • Understanding General Macroeconomic and CGE modeling
  • Understanding the main benefits, uses and limitations of CGE modeling
  • Get introduced to Social Accounting Matrix (SAM) and IO Tables
  • Get introduced to GTAP database
  • Understand the general differences in applications between CGE, Partial Equilibirum (PE) and Econometrics

Course content

1 section • 11 lectures • 1h 6m total length

  • Course Promo0:29

    Explore computable general equilibrium (CGE) models to forecast how economies respond to policy changes, trade shifts, and climate impacts, with hands-on tutorials and practical tools.

  • Introduction to CGE2:41

    Explore the fundamentals for beginners of computable general equilibrium (CGE) models, including definitions, uses, and differences from econometrics, and learn to use the GTAP database with social accounting matrices.

  • Course Agenda2:01

    Cover eight topics on modeling concepts, CGE versus partial equilibrium and econometrics, and the Walras Law, GTAP framework, and SAM and IO data for economy modeling.

  • Definition and Uses of CGE Modeling9:45

    Explore computable general equilibrium modeling for the whole economy, comparing economy-wide static models to dynamic versions, and understand how social accounting matrices capture intersectoral linkages, spillovers, and policy shocks.

  • Differences between CGE, PE and Econometrics8:38

    Compare CGE models with econometrics by showing whole-economy simulations versus ex post regression. Highlight how partial equilibrium focuses on a single sector, while CGE models capture cross-sector dynamics.

  • CGE Model Structure5:02

    Explore the structure of computable general equilibrium (CGE) models, detailing production, distribution, and consumption phases, the circular flow of agents, and Walras law.

  • CGE Steps5:02

    Learn the steps to build a computable general equilibrium model by validating SAM data at equilibrium, adjusting and aggregating data, calibrating to a benchmark, and analyzing shocks for counterfactual policy.

  • Walras Law and Intro. to GTAP/GEMPACK7:01

    Learn Walras law as the self-correcting mechanism guiding markets toward equilibrium, and explore the GTAP database as a ready-to-use, multi-region, multi-sector CGE tool for analyzing trade, tariffs, and policy effects.

  • Entering the World of GTAP/GEMPACK and Running the First CGE Simulation7:19

    Run your first CGE simulation with GTAP/GEMPACK. Build a three-by-three GTAP sam covering sub-Saharan Africa, EU, and rest of world across food, manufacturing, and services, and examine GDP effects.

  • SAM and IO Tables + Practical Calibration Exercises16:06

    Learn how SAM and IO tables capture all transactions in an economy, enforce equilibrium and zero profit conditions, and perform practical calibration of a Cobb-Douglas production function.

  • Course closure2:32

    Reflect on the journey through CGE modeling and its dynamic nature, solidifying your foundation in constructing and interpreting economic models, and applying insights to real-world decision making.

Requirements

  • No prior knowledge of CGE is required, general knowledge of Macroeconomics and economics is preferred

Description

Are you curious about how economies react to policy changes, trade shocks, or climate shifts? Computable General Equilibrium (CGE) models are powerful tools used by governments, researchers, and industries worldwide to simulate the impact of economic policies and environmental changes.

This course offers a beginner-friendly introduction to CGE models, breaking down complex concepts into easily understandable modules. Whether you're from a non-economic background or looking to expand your knowledge, this course equips you with the foundation to explore advanced economic modeling techniques.


What You’ll Learn:

  • The basics of CGE modeling and its real-world applications

  • How to interpret and build CGE models using economic data

  • Hands-on examples and simulations to solidify your understanding

  • The role of CGE models in policy-making, trade analysis, and environmental forecasting

  • Practical tools to evaluate the impact of climate change on economies

Why Take This Course?

  • Expert Instruction: Learn from an experienced trainer with over five years of practical CGE and DSGE modeling experience using GAMS.

  • Interactive Approach: Practical examples and tutorials to help you build your first CGE model.

  • Flexible Learning: Designed for beginners, this course is perfect for students, researchers, policymakers, and anyone interested in applied economics.

  • Real-World Application: Understand how CGE models are used to analyze issues like trade policy, taxation, and climate change.

Who This Course is For:

  • Beginners in economics and modeling

  • Researchers or policymakers wanting to apply CGE models

  • Environmental analysts focused on climate impacts

  • Students aiming to grasp economic forecasting techniques

Requirements:

  • No prior experience with CGE or economic modeling required

  • Basic understanding of economics is a plus, but not necessary

Who this course is for:

  • Undergraduate students of Macroeconomics
  • Post graduate researchers in fields of macroeconomics and policy modeling
  • Public officials in Governmnets and business concerned with policy and public modeling

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