Abstract
BUFFLAND MACROSIM contains a dynamic IS-LM model for simulations of simple monetary and fiscal policy actions under six characteristic U.S. economic environments, one of which is "generic" for instructor-customized cases. For any administration, particular scenarios may be specified by the instructor. At the time of review, the underlying model is largely a black box to students and partly so to the instructor. The illogical behavior of variables in simulations could be a source of confusion. The shell within which simulations are run is attractively designed, but there are no graphics. Students run simulations in a game setting, where they try to minimize "discomfort" (inflation + unemployment).
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