IS Model

This application simulates the goods market of a closed economy with autonomous taxes (i.e. taxes that are independent of the economy’s income). It can be used by instructors to support teaching the model and by students to explore how the model reacts to parameter changes and how the adaptation to a new equilibrium proceeds.

Depending on how deeply the underlying mathematical model is explained the simultation is suitable for principles, undergraduate, as well as for graduate study levels. Continue reading IS Model

Money Creation

The simulation provides an accounting framework that can be used to simulate various scenarios of money creation. The user can select certain actions and can see how the accounts change and money is created. Selected scenarios and the accounting framework are introduced to the users with videos. Continue reading Money Creation