Abstract
The TREE (Toronto Research and Education Environment) System is an interactive computer system developed at the Faculty of Management Studies at the University of Toronto as a teaching and research aid for MBA students. One of the special purpose modules in the System is the TORMAC module. The TORMAC (TORonto MACro-economic) models are a set of three macro models which make different assumptions about price and wage flexibility and may be used as a teaching aid in intermediate macroeconomics courses. Dynamic simulations can be performed with the models and the student can see, for example, how the dynamic effects of a change in government expenditure vary according to the different assumptions. The models can be operated in either a closed or open economy mode with fixed or flexible exchange rate. Stochastic simulations may also be performed so that the models can be used, in conjunction with the statistics module, as aid in teaching econometrics and forecasting.
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