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 Micro Economy Model 1.6 349 Views
Staff Rating: 
4.5/5
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Price: $29.90
Expires:
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GENERAL INFO
License: Demo
File Size: 2000 KB
Homepage: Click Here
STATUS
Added: 04-30-2006
Modified:05-28-2007
Downloads: 3
Rating: Not Rated
Votes: 0 Rate Now
Reviews: 0
 
Publishers Description:
It is a graphical interface that represents mathematical equations based on an economy theory. Economic variables are shown as equations in order to represent what the theory means. Using complex mathematical processes such as Gauss polynomial estimation for taking values from the reality, convert those values to mathematical equations and display them as a graphic. Making them fit in a relation where the factors are exposed in order to better understand the relationship between each other. The software allow us to see the forest without loosing time counting individual trees, let the program do the numbers in order to focus in the concepts related to this represented situation. This software tool can be used to teach and learn how a micro-economy works. Right now this tool is being used in the university with a big screen, asking pupils to solve situations based on imaginary cases. The interface has been designed for working in 800x600 pixels for dynamically display using a projector. Students are also using the software for studying in their homes solving problems, discussed in the class room. Looking into the model we can see that this company may be able to invest in installed capacity making their cost structure more efficient at a higher production level. Why ? As shown in the graphic the product that this company is trading still have market to be developed until reach a maximum income condition, one practical decision could be investing in production assets, modifying the Cost behavior making the cost structure being more reliable at higher production levels. First we need to extract data from the reality, in order to estimate Demand and Total Costs functions. this data may become from marketing measures and studies, based on historical data, or supposed by ourselves, based on any method. The data format will be (Qty ; Cost) Cost eq, and (Qty ; Price) Demand eq. R^2 (correlation factor) will also be calculated and displayed when equations are estimated

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Related Tags:
mathematic model economic model micro economy economy economics marketing simulation software

Category Placement:
Home > Business > Finance

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System Information:
Install Support: Install and Uninstall
OS Support: Win95,Win98,WinME,WinNT 3.x,WinNT 4.x,WinXP,Windows2000
Requirements: ?

Release Information:
Release Date: 08/17/2003
Release Status: New Release
Release Notes: ?
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