R. Pozo-Barajas, M.P. Pablo-Romero, R. Caballero

University of Seville (SPAIN)
General equilibrium macroeconomic models are a basic tool for understanding the functioning of the economy, how the main macroeconomic variables are related to and the final effect of economic policies. Teaching of these models is essentially done through a system of mathematical equations and through the use of concatenated graphs which represent the markets involved in the economy. However, the way these graphs are traditionally taught does not allow the learner to easily understand how they are related and visualise changes in the curves. Basically, students of the Faculty of Economics and Business show difficulties in understanding the graphical representation of changes in the mathematical functions affecting their slopes and position used in these models. The interactive simulation software presented "macroeconomic equilibrium" will overcome the essential difficulties of visual understanding about the mathematical functions used in the model because the students can view graphical changes that occurs when modifying the values of model parameters. This allows to associate changes in these values with the economic effects and so to understand the final effects of economic policies.

Note: During the 4th Annual International Conference on Education and New Learning Technologies, the simulator will be available to all participants. To do this, we will create a link of the virtual presentation.