Economics Chapter of the System Dynamics Society

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The Economics Chapter of the System Dynamics Society is an organisation that deals with different objectives concerning System Dynamics. It is a part of the System Dynamics Society.The principal task is to identify, extend and unify knowledge contributing to the understanding and betterment of economic systems through the use of System Dynamics. Furthermore it deals with promoting the development of the fields of Economics and System Dynamics. Another aspect of the Econ-Chapter is to encourage and develop educational programs related to the behavior of economic systems. Promoting pluralism within the economics profession is also part of it.

To accomplish these objectives the Economics Chapter proposes to conduct chapter meetings and to publish a journal, newsletter, website, books and other materials.

Contents

[edit] Governance

[edit] Officers

  • President: Oleg V. Pavlov, Assistant Professor, Worcester Polytechnic Institute, USA
  • Past-President: Burkhard Schade, Researcher, Institute for Economic Policy Research, University of Karlsruhe, Germany

There are currently 71 members.

[edit] Mailing list

The Chapter maintains a mailing list. You can subscribe to the list by mailing to list-econsd-request@WPI.EDU with the word "subscribe" in the body of the message.

[edit] Constitution of the Economics Chapter of the System Dynamics Society, Inc.

  • The Chapter shall be known by the name:

The Economics Chapter of the System Dynamics Society, Inc.

  • The objectives of the Economics Chapter shall be:
    • To identify, extend and unify knowledge contributing to the understanding and betterment of economic systems through the use of System Dynamics.
    • To promote the development of the fields of Economics and System Dynamics.
    • To encourage and develop educational programs related to the behavior of economic systems.
    • To promote pluralism within the economics profession.

To accomplish these objectives the Economics Chapter proposes to conduct chapter meetings and to publish a journal, newsletter, website, books, and other materials.

  • Membership

All members of the Economics Chapter must also be members of the System Dynamics Society, Inc. Any member in good standing of the System Dynamics Society, Inc. may join the Chapter.

  • The Policy Council

The Economics Chapter shall be governed by a Policy Council. The Policy Council shall consist of a President, President-Elect, Past President and a Society liaison. All members of the Policy Council shall be members of the Chapter.

  • Meetings

The Economics Chapter shall hold a meeting at least annually. Such a meeting may be held during, but must not interfere with, the international conference of the System Dynamics Society. Matters related to Chapter business and the election of officers will be addressed in this meeting.

  • Elections

The Policy Council shall be elected by a majority vote of the Economics Chapter membership. All members in good standing shall be allowed to vote. The elections shall be held at Chapter meetings at fixed intervals in accordance with the terms of the Policy Council.

  • Publications

The Economics Chapter may choose to publish a journal, newsletter, website, books, and/or other materials. Such publications will:

    • not represent themselves as publications of the System Dynamics Society, Inc.
    • be related to the particular interests of the Economics Chapter.
  • Conferences

The Economics Chapter may choose to hold conferences as long as those conferences:

    • do not present themselves to be conferences of the System Dynamics Society, Inc.
    • do not interfere with the annual conference of the System Dynamics Society, Inc.
    • ve at least one month between them and the annual conference of the System Dynamics Society, Inc.

The expenses and profits from any Economics Chapter Conferences are the responsibility of the Economics Chapter.

[edit] Selected Bibliography

[edit] Institutional and Evolutionary Economics and System Dynamics

  • Atkinson, G. 2004. Common Ground for Institutional Economics and System Dynamics Modeling. System Dynamics Review 20 (4): 275-286
  • Saeed, K. 2004. Designing an environmental mitigation banking institution for linking the size of economic activity to environmental capacity. Journal of Economic Issues 38 (4): 909-937
  • Radzicki, M. 2003. Mr. Hamilton, Mr. Forrester and a Foundation for Evolutionary Economics. Journal of Economic Issues 37(1): 133-173
  • Harvey, J. T. 2002. Keynes' chapter 22: A system dynamics model. Journal of Economic Issues 36 (2): 373-382
  • Harvey, J. T. and K. Klopfenstein. 2001. International capital and Mexican development: A system dynamics model. Journal of Economic Issues 35 (2): 439-450
  • Radzicki, M. J. and J. D. Sterman 1994. Evolutionary Economics and System Dynamics. Evolutionary Concepts in Contemporary Economics. R. England. Ann Arbor, University of Michigan Press: 61-89
  • Radzicki, M. J. 1990. Methodologia Oeconomiae et Systematis Dynamis. System Dynamics Review 6(2): 1213-147
  • Radzicki, M. J. 1990. Institutional Dynamics, Deterministic Chaos, and Self-Organizing Systems. Journal of Economic Issues 24(1): 57-102

[edit] Complex Economic Dynamics and System Dynamics

  • Brens, M. and J. Sturis. 1991. Local and Global Bifurcations in a Model of the Economic Long Wave. System Dynamics Review 7(1): 41-60
  • Sterman, J. D. 1989. Deterministic Chaos in an Experimental Economic System. Journal of Economic Behavior and Organization 12: 1-28
  • Rasmussen, S., E. Mosekilde and J. D. Sterman. 1985. Bifurcations and Chaotic Behavior in a Simple Model of the Economic Long Wave. System Dynamics Review 1(1): 92-110

[edit] Environmental Economics and System Dynamics

  • Low, C., Ostrom, Wilson, Simon. 1999. Human-Ecosystem Interactions: A Dynamic Integrated Model. Ecological Economics 31: 227-242

[edit] Development Economics and System Dynamics

  • Saeed, K. 1998. Towards Sustainable Development, 2nd Edition: Essays on System Analysis of National Policy. Aldershot, England: Ashgate Publishing Company.read online...

[edit] Micro-Economics and System Dynamics

  • Sice, P., E. Mosekilde, A. Moscardini, K. Lawler and I. French. 2000. Using System Dynamics to Analyse Interactions in Duopoly Competition. System Dynamics Review 16(2): 113

[edit] General Economics and System Dynamics

  • Heij, C. System Dynamics in Economic & Financial Models. New York, John Wiley & Sons, Inc., 1997
  • Mosekilde, E., J. S. Thomsen and J. D. Sterman. 1992. Nonlinear Interactions in the Economy. Economic Evolution and Demographic Change. G. Haag, U. Müller and K. Troitzsch. Berlin, Springer-Verlag: 35-61
  • Kivijarvi, H. and M. Tuominen. 1986. Solving Economic Optimal Control Problems with System Dynamics. System Dynamics Review 2(2): 138-149
  • Sterman, J. D. 1985. A Behavioral Model of the Economic Long Wave. Journal of Economic Behavior and Organization 6(1): 17-53
  • Koch, D. L. and N. J. Mass. 1981. The Florida Economy-Elements of a System Dynamics Approach. Business Economic 16(1): 21-25
  • Forrester, J. W. Information Sources for Modeling the National Economy.Journal of the American Statistical Association 75, 371 (1980): 555-574
  • Low, G. W. 1980. The Multiplier-Accelerator Model of Business Cycles Interpreted from a System Dynamics Perspective. Elements of the System Dynamics Method. J. Randers. Cambridge MA, Producivity Press: 76-94
  • Forrester, J. W. 1977. Understanding the Changing Basis for Economic Growth - an Application of System Dynamics. Computers & People 26(1): 12, 26-27
  • Forrester, J. W. 1977. Growth Cycles. De Economist 125(4): 525-543.
  • Van Duijin, J. J. 1977. The Long Wave in Economic Life. De Economist 125(4): 32.

[edit] Model Databases

[edit] Teaching

Using STELLA to Teach Macroeconomics. An article by David Wheat in The Connector. Economics students often find it difficult to see how textbook graphs interact to influence economic system performance. This is a brief account of how STELLA's story-telling feature helps capture the elusive dynamics of interaction. Read more...

MacroLab: Model-Facilitated Learning of Macroeconomics Instructor: David Wheat, University of Bergen. Wheat resources Inc.

Macroeconomic Dynamics Instructor: Michael Radzicki, Worcester Polytechnic Institute Web site: WPI Corporate Education

System Dynamics Group Bergen Web site: The System Dynamic Group at the University of Bergen

At the Brandenburg Technical University Cottbus in Germany System Dynamics is incorporated into courses "Introduction into General Economics" and "Business Cycles and Economic Growth" (upper-level course) by Prof. Wolfgang Cezanne (Chair of Macroeconomics) and Lars Weber. They use the system view to give students an idea about how things are connected in the economy. They draw CLDs for common economic problems. In the upper-level course SD is used to visualize and understand the links between the variables in common economic theories. They also held seminars, in which students can investigate different policies by running simulations.

[edit] Relevant Links

[edit] References

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