OPAL

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.