731369 Computer simulation in energy and resource economics

Lecture and seminar
Semester hours
Lecturer (assistant)
Gruber, Katharina , Schmidt, Johannes
Offered in
Wintersemester 2022/23
Languages of instruction


Economic agents that show bounded rationality or strategic behavior and markets that are out of equilibrium pose serious problems to traditional economic modeling techniques.

This course introduces the students to the concept of agent based modeling which allows addressing these issues.

After presenting general agent based models in economics, we focus mainly on modeling the design of electricity markets.


Previous knowledge expected


Objective (expected results of study and acquired competences)

The studends learn to understand the concept of agent based modeling, get to know important agent based models and learn how to apply them appropriatly. Students will also learn to implement, verify and validate basic agent based models in the programming language NetLogo.
You can find more details like the schedule or information about exams on the course-page in BOKUonline.