The Centre of Policy Studies (CoPS) offers an intensive one-week course introducing participants to the equations and data structure of TERM (a multiregional CGE model of a single country) and providing them with extensive hands-on experience with the GEMPACK software used to solve CGE models.
It will be hosted by the Austrian Institute of Economic Research (WIFO) in Vienna.
The course should appeal to people needing the following skills and knowledge:
- the ability to work with, or understand results from, a regional CGE model like TERM
- the ability to use the theory of TERM and the TERM database construction methodology for a chosen country
- an understanding of current policy issues in the context of a formal economy-wide system.
The TERM model
TERM (The Enormous Regional Model) is a multiregional CGE model of a single country, which is "bottom-up" – it treats each region as a separate economy. Two key features of TERM are: (a) its ability to solve quickly with a large number of regions or sectors, and (b) its database construction methodology, which allows a multiregional database to be constructed quickly, even with quite limited regional data.
The first, Australian, version of TERM distinguished 144 sectors and 57 regions. More recently, its master database has been extended to represent 182 sectors in 205 statistical subdivisions (SSDs), so that urban areas, water catchment areas and tourism regions may all be distinguished accurately. The high degree of regional detail makes TERM a useful tool for examining the regional impacts of shocks (especially supply-side shocks) that may be region-specific. Finally, TERM has a particularly detailed treatment of transport costs and is naturally suited to simulating the effects of improving particular road or rail links.
Versions of TERM have been prepared for Brazil, China, Finland, Indonesia, Italy, Japan, Korea, New Zealand, Poland, South Africa, Sri Lanka, Sweden and USA. The course material is mainly based on the South African version but would apply with small modification to other versions of TERM. There may be one lab session using a Polish version of TERM.
The course program consists of lectures explaining CGE theory as applied to TERM integrated with a sequence of practical computer exercises using GEMPACK. During the first 3.5 days, about equal time is spent on lectures, and on practical sessions. Then, participants form into groups, each focused on running and analysing different simulations.
The course should appeal to those needing a background in CGE modelling in order to work with, or understand results from a typical multi-regional CGE model, and to those wishing to learn CGE modelling using GEMPACK. Course participants receive a folder containing course notes, lecture slides and model documentation. Furthermore participants receive a USB key containing GEMPACK software, a 1-year expiring licence, the GEMPACK manual and computer files containing the course model and exercise material.
Fees (in Euros)
- course materials (including software)
- morning and afternoon teas
- 5 lunches.
The fee does not cover accommodation, breakfast or dinner.
- Full fee – €1200
- CEEC, 15% discount – €1020
- 2+ members, or from one institution, 20% discount – €960
- Full fee – €2400
- CEEC, 15% discount – €2040
- 2+ members, or from one institution, 20% discount – €1920
- Full fee – €3200
- CEEC, 15% discount – €2720
- 2+ members, or from one institution, 20% discount – €2560
- Full fee – €4500
- CEEC, 15% discount – €3825
- 2+ members, or from one institution, 20% discount – €3600