Free Economic Modeling Software

Free Economic Modeling Software for Students and Researchers

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Economic modeling is a crucial aspect of economic research, analysis, and decision-making. As a student or researcher in economics, having access to the right tools is essential for producing accurate and insightful economic models. However, not all economic modeling software is easily accessible or affordable. Luckily, there are free economic modeling software options available online that can help you create effective economic models without breaking the bank. In this article, we will explore some of the best free economic modeling software options for students and researchers.

Free Economic Modeling Software for Students and Researchers

There are several free economic modeling software options available for students and researchers. Some of these include;

Ox console

The Ox console is a free economic modeling software that can be used by students for academic purposes. The Ox programming language is the basis for OxMetrics and is relatively easy to use and extremely fast. However, it is important to note that the free version is only available for academic use. Other resources that provide access to economic modeling software include Gemodel 3.2, which simulates neo-classical economic models such as those found in price theory, public finance, international trade, and economic development textbooks.  It can be used for econometric analysis, symbolic mathematics, and optimization. The software can be downloaded for free and is available for Windows, Mac, and Linux operating systems.

fcbap Gemodel 3.2

fcbap Gemodel 3.2 is a free economic modeling software that simulates neo-classical economic models such as those found in price theory, public finance, international trade, and economic development textbooks. The software is designed to calculate numerical solutions for non-linear general equilibrium models so that the comparative static results of economic theory may be illustrated. Gemodel 3.2 allows users to enter assumed functional parameters in spreadsheets and select menu choices to build any one of a large number of alternative model economies. Additionally, Gemodel 3.2 can be used for policy analysis. While Gemodel 3.2 is a free software, users will need to purchase a license to use the software. Overall, fcbap Gemodel 3.2 is a useful and free economic modeling software for students and researchers.

The Economics Network

The Economics Network provides a set of classic economic models that run through a web browser, some of which are available as free trials. These models are divided into micro and macro models, covering topics such as perfect competition, Keynesian models, price discrimination, and utility-based valuation of risk.

While The Economics Network does not provide a specific economic modeling software, it does offer a useful resource for students and researchers to access free economic models for educational purposes. Additionally, The Economics Network provides software in Principles of Microeconomics and Principles of Macroeconomics, which include a macroeconomic simulation game intended for education and training.

Recommended Resources:

As we have seen, economic modeling software is an essential tool for students and researchers to conduct various economic analyses. The availability of free economic modeling software makes it possible for everyone to access and use these powerful tools without breaking the bank. In this article, we have explored some of the best free economic modeling software available, and we hope that this information will help you find the perfect software for your needs. With these tools, you can perform complex economic analyses, test different scenarios, and make more informed decisions. So why wait? Start exploring the world of free economic modeling software today and take your research to the next level