WS16: Get Started with Macro Modeling

Workshop Abstract

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 system dynamics software. During the workshop, experience modelers and teachers will guide you in building a simple macro model. The template we use is the result of two decades of teaching macroeconomics and monetary policy and, more recently, developing system dynamics models for economic policy analysis in Ukraine.

Professor David Wheat

University of Bergen, Norway

David Wheat is emeritus professor of system dynamics at the University of Bergen in Norway. Professor Wheat studies and models economic systems. He teaches monetary policy and economic dynamics to graduate students in Lithuania and Ukraine. He also teaches macroeconomics to undergraduates in the United States. In Norway, after teaching the system dynamics modeling process for many years, he continues to offer courses in macroeconomic dynamics and policy design & implementation. His projects include collaboration with Ukrainian economists to build dynamic modeling capacity at national universities in Kyiv and Lviv, creation of a system dynamics version of the central bank’s monetary policy model, and building an economic development policy model for Ukrainian government ministries. He also worked with economists at Lithuania’s central bank to develop a multi-industry system dynamics model of price dynamics in Europe. He is co-editor of Feedback Dynamics (Springer 2021).Wheat is past-president of the economics chapter of the International System Dynamics Society. He served as Associate Editor of the System Dynamics Review and on the Advisory Board of the International Journal of Pluralism and Economics Education. He received his PhD at the University of Bergen, his master’s degree in public policy at Harvard University, and his bachelor’s degree in government and mathematics at Texas Tech University. During the 1970s, he served at the White House as staff assistant to the President of the United States.

Professor Marianna Oliskevych

Ivan Franko National University of Lviv, Ukraine

Marianna Oliskevych is a professor of mathematical economics and econometrics at Ivan Franko National University of Lviv in Ukraine. She received her PhD in Mathematics and Physics (1998) and Doctor of Science Degree in Economics (2016). She has authored or co-authored more than fifty scientific articles in international journals. Her scientific research interests include nonlinear time series models of macroeconomic indicators, econometric modeling of labor market dynamic processes in Eastern European countries, mathematical methods in economics and finance, regional labor markets in Ukraine, development of dynamic macroeconomic model of Ukraine, simulation social economic processes. After studying system dynamics at the University in Bergen in 2017, she integrated the system dynamics methodology into her courses. She also developed two new courses: “System Dynamics: Applying of Differential Equations” for bachelor students and “Advanced Macroeconomics using the System Dynamics Approach “ for master students. She collaborates with Ukraine’s Junior Academy of Science and conducts system dynamics workshops for high school teachers and students in Lviv.

Dr. Alina Novik

Senior Lecturer, National University of Kyiv-Mohyla Academy, Ukraine

Alina Novik is a Senior Lecturer in the Department of Finance at the National University of Kyiv-Mohyla Academy in Ukraine (NaUKMA), where she also received her PhD. Her scientific research interests include mathematical modeling of labor markets, migration, economic growth, and the shadow economy. Her PhD work included developing a combination of system dynamics and econometrics models that demonstrate migration flows within Ukraine and their influence on economic growth in the country, and the influence of the shadow economy on migration flows. She currently teaches introductory courses in econometrics and system dynamics for bachelor students. She also serves as a teaching assistant in two master-level courses that were developed as a result of collaboration with the University of Bergen: Economic Dynamics and Dynamic Macro Analysis.