Agent-based modeling and simulation
Computer simulation is one of the most innovative and most promising methods employed in economics, finance, business analytics, and other fields. Though not an exact analytical method it is a convenient way to approximate analytical results while being inexpensive and time saving even when dealing with very complex settings. The seminar "Agent-based modeling and simulation" will cover the method, techniques, and applications of computer simulation with a particular focus on agent-based models. This includes the creation of an appropriate simulation in a formal programming language (e.g. Python), the process of carrying out, validating and improving the simulation and the final evaluation of the obtained results. Possible topics for term papers include: the simulation of epidemics (such as Covid-19), the simulation of business cycles and investment cycles, that of the stability of banking systems, or that of models of innovation and technological change as well as many other topics.
Organisation and Examination
Context:
The seminar is offered for both Bachelor-level students and Master-level students, but the requirements for the term paper differ. The list of topics is organized by difficulty. It is encouraged that Bachelor-level students consider choosing easier topics while Master-level students are encouraged to choose more difficult ones. Seminar sessions and presentations will be held jointly. This should offer 1) an opportunity to learn from more advanced students and 2) the possibility to practice explaining complicated issues in simple, understandable terms. Students should work on one topic in groups of two.
Organisation:
Students will write a term paper and present it at the end of the term. Topics will be assigned at the beginning of the term. There will be a presentation session over one or two days (depending on the number of participants) at the end of term. Students will be assigned a supervisor and are expected to stay in touch with the supervisor while working on the term paper.
Examination:
There will be no examination. Students will write a term paper and present it in the course.