Introduction to Computable General Equilibrium Models (3^rd Ed., Revised edition)

Computable general equilibrium (CGE) models play an important role in supporting public-policy making on such issues as trade, climate change and taxation. This significantly revised volume, keeping pace with the next-generation standard CGE model, is the only undergraduate-level introduction of its kind. The volume utilizes a graphical approach to explain the economic theory underlying a CGE model, and provides results from simple, small-scale CGE models to illustrate the links between theory and model outcomes. Its eleven hands-on exercises introduce modelling techniques that are applied to real-world economic problems. Students learn how to integrate their separate fields of economic study into a comprehensive, general equilibrium perspective as they develop their skills as producers or consumers of CGE-based analysis.

1. Introduction to Computable General Equilibrium Models; 2. Elements of a Computable General Equilibrium Model; 3. The CGE Model Database; 4. Final Demand in a CGE Model; 5. Supply in a CGE Model; 6. Factors of Production in a CGE Model; 7. Trade in a CGE Model; 8. Taxes in a CGE Model; 9. Regulations in a CGE Model; 10. Conclusion: Frontiers in CGE Modeling.

Mary E. Burfisher is Senior Education Advisor at the Center for Global Trade Analysis at Purdue University and an adjunct professor at the University of Maryland Global Campus.