Public Engagement

Sun, 24 Aug 2025 00:00:00 +0000

EconDyn Lab

Fri, 08 Aug 2025 00:00:00 +0000

Welcome!

We live in time, yet in economics classrooms, time stands still! 😸

Undergraduate economics teaching mainly uses the comparative static method.

The comparative static method is like taking snapshots of the system at different times and comparing them. But it does not tell us anything about the the transition between them - whether the journey is bumpy or smooth!

Dynamics is the study about the quality of the journey and what makes the journey bumpy or smooth.

Simulation is a tool to visualize the dynamics of the system, i.e., the journey. It’s not just a computational tool, but it is an active learning tool to understand basic economic intuition.

How to use the platform?

The aim of Econdyn Lab is to provide a simulation tool to help experimental learning in Economics.

First, play around the with the parameter values and initial conditions in various models and see how the output plots change - thanks to our dynamic and talented intern Aditya Mahadevan for working on the simulation toolbars using the Shiny package in R (open source). 🫡
Second, go to the main reference textbook and study the models to see how the dynamics in those plots are generated.
Third, experimenting with the paramter values will help you understand what values make “economic” sense and what values don’t!

Simulate, Experiment, and Repeat 😹

Dynamic Models for Simulation

Time Series Notes by Kedar Kulkarni

Econdyn Lab Team

Srinivas Raghavendra, University of Galway, Ireland.
Aditya Mahadevan, BA Economics, Azim Premji University, India.
Petri T. Piiroinen, Dynamics, Mechanics and Maritime Sciences, Chalmers University of Technology, Sweden
Zico Dasgupta, Azim Premji University, India
Kedar Kulkarni, Azim Premji University, India