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Exploring Economic Models Using Excel
Author(s) -
Cahill Miles,
Kosicki George
Publication year - 2000
Publication title -
southern economic journal
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.762
H-Index - 58
eISSN - 2325-8012
pISSN - 0038-4038
DOI - 10.1002/j.2325-8012.2000.tb00288.x
Subject(s) - solver , computer science , software , substitution (logic) , ms excel , econometrics , software engineering , economics , programming language
This paper applies spreadsheet software to intermediate‐level consumer theory concepts. Spreadsheets help make the concepts more accessible while allowing students to explore the ideas in more depth. Areas of application are utility functions, income and substitution effects, price indices, measures of welfare change, and the optimal saving rate. We chose the examples to stimulate awareness and discussion of the many classroom uses for four important Excel spreadsheet tools: three‐dimensional (3‐D) graphs, iteration, Goal Seek, and Solver.