Year-end Sale % OFF 
Abstract
Educational experience shows that during the research process researchers perceive graphical information better than analytical relationships. Many economic courses operate with models that were previously available only in mathematics and physics disciplines. As a possible solution, there could be the use of the package Matlab Simulink in the realization of different algorithms both for engineering disciplines and economic studies. The article substantiates the usefulness of implementing the simulation models during the early stage of the research, when in parallel to acquiring analytical relations, simulation models may be introduced. The aim of the article is to show Matlab Simulink suitability for the purpose of visualizing simulation models of various economic disciplines. To reach the aim, the following research tasks have been set: identification of Matlab Simulink possibilities for simulation of economic processes; demonstrate visualization models on the basis of examples; visualization of time series model using Latgale unemployment rate data. The article presents examples of using simulation modeling in the economic research processes - optimal tax rate searching and time series application. Common research methods are used in this research: descriptive research method, statistical method, mathematical modeling.
Highlights
The classification of general economic models is based on the scope of the economic system under study
Common research methods are used in this research: descriptive research method, statistical method, mathematical modeling
In this article the author substantiates the usefulness of introduction of a simulation model for the economics studies
Summary
The classification of general economic models is based on the scope of the economic system under study. The following research tasks have been set: - identification of Matlab Simulink possibilities for simulation of economic processes; - demonstrate visualization models on the basis of examples; - visualization of time series model using Latgale unemployment rate data. The simulation, using Simulink, implements the principle of visual programming whereby the user on the screen creates a model of a structure, process or system from standard blocks of the library, and performs calculations In this case, unlike in classical ways of modeling, the user does not need to study the programming language and numerical mathematics methods thoroughly, there is enough to have some general knowledge required when working on the computer, and, knowledge on the subject area in which he works. The block can integrate or accumulate using the Forward Euler, Backward Euler, and Trapezoidal methods
Sign-in/Register to view highlights & summary Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
