Project Number: MB1 MQP 0001
Developing an Excel VBA Application to Set a Generic SD Model in Equilibrium & Modeling the US Domestic Economy using an Accounting Framework in SD A Major Qualifying Project Report: submitted to the Faculty of the WORCESTER POLYTECHNIC INSTITUTE in partial fulfillment of the requirements for the Degree of Bachelor of Science in Mathematical Sciences by: George Michael Raad
Approved by: Professor Marcel Blais Professor Michael Radzicki
Date: April 26th, 2012
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Table of Content Part I: Developing an Excel VBA Application to Set a Generic SD Model in Equilibrium 1. 2. 3. 4. Introduction & Motivation Why Microsoft Excel Setting a SD Model in Equilibrium: An Analytical Solution Numerical Algorithm: The Tracing Method a. Searching for Variables in Causal Link b. Controlling Exogenous Variables c. Implementing Excel’s Solver during Variable Search Numerical Algorithm: The Simultaneous Method The User Experience with the Graphical User Interface Limitations & Future Work Conclusion
5. 6. 7. 8.
Part II: Modeling the US Domestic Economy using an Accounting Framework in SD 1. Introduction 2. Literature Review a. Forrester’s National Model b. Mashayekhi’s Economy Model c. Yamagushi’s Accounting-Based Economy Model 3. Calibrating Yamagushi’s Model to Fit the US Economy’s Structure and Data a. Model Sectors b. Meet the Players c. The Household Sector d. The Consumer Sector e. The Producer Sector f. The Government Sector g. The Bank Sector h. The Central Bank i. Aggregate Production 4. Model Limitations & Future Work 5. Conclusion Bibliography
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Acknowledgements I would like to extend many thanks to Prof. Blais and Prof. Radzicki for their unyielding support, and wise insights. Having worked with them has been a tremendous opportunity, one that I am quite grateful for.
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