Agent Based Modelling Training Course: What is the big deal for policy?
Monday 11th September 2017
Location: The School of Economic Science, 11-13 Mandeville Place, Marylebone, London, W1U 3AJ
Time: 10am - 4pm
Agent Based Modelling (ABM) is a key new technique for exploring complex economic problems. It can represent complex interactions between agents over time under different scenarios. It can be used to better understand and mitigate risks and identify and accentuate opportunities for policy. It is a key tool recommended by people such as Andy Haldane, Chief Economist of the Bank of England and Richard Bookstabber, former Securities and Exchange Commission regulator and Treasury department adviser. Current users include government depts and agencies, banks, major retailers and the military amongst others. This course would allow you to better understand how ABMs are best used to inform policy and regulatory strategies. It is given by people who have both built and used ABMs.
Objectives of the course:
To help non-modellers to understand:
- the potential of ABMs to help them inform strategic policy decisions
- different approaches to agent based modelling and their pros and cons
- how to use them effectively to help deliver better evidence to support policy
Who should attend:
Policy strategists, analysts and researchers developing and/or informing policy and regulatory strategies in complex environments involving multiple agents who:
- are looking for better techniques to inform policy strategies
- are faced with surprising results from previous strategies and want tools to understand them better
- want a better understanding of the potential of agent based modelling
Key elements of the course:
- Introduction to different approaches to modelling and their pros and cons for different problems;
- Introduction to ABMs with case studies of the use of ABMs to inform policy
- Demonstration of actual ABMs and the sort of results they produce
- How to use ABMs from design, gathering evidence, working with stakeholders, validation, and communication of results
- Group work exploring specific modelling approaches for the challenges faced by attendees.
At the end of this course, you should understand:
- where ABMs might have potential to provide value to policy development; and
- how to use ABMs to get most value out of them to inform policy and regulatory decision making.
Private Sector £180; Public Sector £120; Academic and Civil Sector inc un-affiliated individuals £80; Phd Students £40
This course is being run by New Economic Knowledge Services (NEKS) please book your place via their website.