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Exploring Economic Models Using Excel

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  • Miles Cahill
  • George Kosicki

Abstract

This paper applies spreadsheet software to intermediate‐level consumer theory concepts. Spreadsheets help make the concepts more accessible while allowing students to explore the ideas in more depth. Areas of application are utility functions, income and substitution effects, price indices, measures of welfare change, and the optimal saving rate. We chose the examples to stimulate awareness and discussion of the many classroom uses for four important Excel spreadsheet tools: three‐dimensional (3‐D) graphs, iteration, Goal Seek, and Solver.

Suggested Citation

  • Miles Cahill & George Kosicki, 2000. "Exploring Economic Models Using Excel," Southern Economic Journal, John Wiley & Sons, vol. 66(3), pages 770-792, January.
    • Handle: RePEc:wly:soecon:v:66:y:2000:i:3:p:770-792
    DOI: 10.1002/j.2325-8012.2000.tb00288.x
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    References listed on IDEAS

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    1. Brent R. Moulton, 1996. "Bias in the Consumer Price Index: What Is the Evidence?," Journal of Economic Perspectives, American Economic Association, vol. 10(4), pages 159-177, Fall.
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    3. Bateman, Bradley W, 1992. "The Education of Economists: A Different Perspective," Journal of Economic Literature, American Economic Association, vol. 30(3), pages 1491-1495, September.
    4. Willig, Robert D, 1976. "Consumer's Surplus without Apology," American Economic Review, American Economic Association, vol. 66(4), pages 589-597, September.
    5. Kasper, Hirschel, et al, 1991. "The Education of Economists: From Undergraduate to Graduate Studies," Journal of Economic Literature, American Economic Association, vol. 29(3), pages 1088-1109, September.
    6. Michael J. Boskin, 1998. "Consumer Prices, the Consumer Price Index, and the Cost of Living," Journal of Economic Perspectives, American Economic Association, vol. 12(1), pages 3-26, Winter.
    7. William E. Becker, 1997. "Teaching Economics to Undergraduates," Journal of Economic Literature, American Economic Association, vol. 35(3), pages 1347-1373, September.
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    Cited by:

    1. John Gilbert & Onur A. Koska & Reza Oladi, 2023. "Building and using nonlinear simulations in Excel with an application to the specific factors model," Southern Economic Journal, John Wiley & Sons, vol. 89(4), pages 1242-1265, April.
    2. John Gilbert & Onur A. Koska & Reza Oladi, 2022. "Building and Using Nonlinear Excel Simulations: An Application to the Specific Factors Model," Working Papers in Economics 22/08, University of Canterbury, Department of Economics and Finance.

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