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This model also shows the operation of a simple economy. It differs from Model 1 primarily in the representation of all goods in the economy by units of measure of a higher level of abstraction. Thus, the same model can represent economies at different levels.

The simulation demonstrates how differing rates of consumption affect Savings.

Simple Economy: Model 2

Jim Berger

3

The term 'work' has been used in this model in the sense of economic activity to include not only work done by people but also by machines. The model shows 8 positive feedback loops that reinforce work and the need to work. From the perspective of physics, civilisation can be described as a MECHANISM FOR USING ENERGY AND DOING WORK.

Work, however, has some unavoidable consequences. The second law of thermodynamics tells us that any ‘work’ requires the use of energy and that DOING WORK entails the generation of WASTE HEAT. The laws of physics also tell us that CO2 emissions from burning fossil fuels will cause global warming. These unintended and unavoidable consequences are highlighted in the model by prominent arrows.

Can the structure of this system be changed to avoid a foreseeable collapse of civilisation?

Do economic activity and work unavoidably lead to doom?

Hanns-Jürgen Hodann

9 months ago

Introduction:

This model aims to show that how the Tasmania government's COVID-19 policy can address the spread of the pandemic and in what way these policies can damage the economy.

Assumption:

Variables such as infection rate, death rate and the recovery rate are influenced by the actual situation.

The government will implement stricter travel bans and social distant policies as there are more cases.

Government policies reduce infection and limit economic growth at the same time.

A greater number of COVID-19 cases has a negative effect on the economy.

Interesting insights:

A higher testing rate will make the infection increase and the infection rate will slightly increase as well.

Government policies are effective to lower the infection, however, they will damage the local economy. While the higher number of COVID-19 cases also influences economic activities.

Model of COVID-19 outbreak in Burnie_Guoyu Shen

Guoyu Shen

Simplification of Prevention Investment Framework (private) IM See WIP integrating with economic view insight (private) and multiscale version IM private

HYPER Model Overview

Geoff McDonnell

3

tbd

Associative Economics - The Farmer, The baker and The Bread Eaters

Joshua Gottdenker

Grid-Group Culture applied to Public Management based on Christopher Hood's 1998 book. plus excerpts from Schwartz and Thompson's 1990 Book Divided we stand. See also Managing Mess IM-11581 and FourCultures Blog and Wikipedia Cultural Theory of Risk

The Art of the State

Geoff McDonnell

WIP based mostly on Jan Toporowski 2013 vol 1 and 2018 vol 2 books on Michal Kalecki: An Intellectual Biography

Layout Consistent with David Wheat MacroEconomic model CLD Insight by Gene Bellinger

Kalecki economic thought

Geoff McDonnell

This model illustrates the current practice and consequences of government spending. Following the direction of the arrows from right to left the model shows the following sequence based on current practice:

Government Spending at a certain point leads to spending in excess of tax receipts. This will automatically lead to the issue of treasuries in the belief that the excess spending must be financed by borrowing (although the government has the capacity to create money). This in turn will increase the national debt.

Consequences that follow from this practice:

1) That national debt increases whenever the government spends in excess of tax receipts.

2) That the government must pay interest on the debt issued, which in turn increases and reinforces the need for government spending.

3) That the interest paid on treasuries will increase private sector income.

There is an alternative view, supported by Modern Monetary Theory, of how government spending can proceed. Please see this Insight:

https://insightmaker.com/insight/19954

Government Spending (Current Practice)

Hanns-Jürgen Hodann

Introduction:

This model demonstrates the COVID-19 outbreak in Burnie, Tasmania. It shows how the government policy tries to reduce the spread of COVID-19 whilst also impacting the local economy.

Assumptions:

This model has four variables that influence the number of COVID-19 cases: infection rate, immunity loss rate, recovery rate and death rate.

In order to reduce the pandemic spread, in this model, assume the government released six policies when Burnie COVID-19 cases are equal or over 10 cases. Policies are vaccination promotion, travel restriction to Burnie, quarantine, social distance, lockdown and testing rate.

Government policies would reduce the pandemic. However, it decreases economic growth at the same time. In this model, only list three variable that influence local economic activities.

Travel restrictions and quarantine will reduce Burnie tourism and decrease the local economy. On the other hand, quarantine, social distance, lockdown allow people to stay at home, increasing E-commerce business.

As a result, policies that cause fewer COVID-19 cases also cause more considerable negative damage to the economy.

Interesting insights:

One of the interesting findings is that the government policy would reduce the COVID-19 spread significantly if I adjust the total government policies are over 20% (vaccine promotion, travel restriction, quarantine, social distance, lockdown), 3560 people will die, then no more people get COVID-19.

However, if I change the total government policy to less than 5%, the whole Burnie people will die according to the model. Therefore, we need to follow the polices, which saves our lives.

BMA708 assignment3 - Model of COVID-19 outbreak in Burnie

Zhiyuan Wang

Assignment 1- Part 2 Energy Economics and Fossil Fuels

Berberian_Energy Economics and Fossil Fuel

Lori Berberian

3

This Model was developed from the SEIR Model (Susceptible, Exposed, Infected, Recovered) and it predicts the COVID-19 outbreak in Burnie, Tasmania. This pandemic outbreak contributes to diverse rates including infection rate, death rates and recovery rate, government policies and its economic impacts.

Assumptions:

This model is driven by its determined rates, e.g., incubation rate, morality rate, test rate and immunity loss rate and its recovery rate.

Government policies are involved in fully vaccination rate, social distance, national border closure, travel, and business restriction which effect Burnie’s economy.

There are three economic entities dimensions in Burnie Island, we can tell that the pandemic has negative impact on Brick-and-Mortar enterprises and tourism business to some extent, whereas, e commercial business plays a crucial role to stimulate the regional economic activities during the COVID-19 period.

Interesting Insights:

The figure of susceptible changes significantly during the initial 3 weeks because of low recovery rate and high infection rate. On the other hand, the implementation and interventions of government policies is effective, because the number of patients who tested negative is increased and the majority of them release and go back home after medical follow-up.

Xueli Huang 501514, BMA708 Model of COVID-19 Outbreak in Burnie, Tasmania

XUELI HUANG

VA - socio-economic

Baihua

Model based on chapter 10 (opportunity cost) of the book Modeling Dynamic Economic Systems

Opportunity cost

AR

310

Economic Assessment Model Virtualisation of Electric Substations

Jose Angel L V

4 10 months ago

Wealth can be seen as the factories, infrastructure, goods and services the population of a nation dispose of. According to Tim Garrett, a scientist who looks at the economy from the perspective of physics, it is existing wealth that generates economic activity and growth. This growth demands the use of energy as no activity can take place without its use. He also points out that the use of this energy unavoidably leads to concentrations of CO2 in the atmosphere. All this, Tim Garrett says, follows from the second law of thermodynamics. If wealth decreases then so does economic activity and growth. The CLD tries to illustrate how wealth, ironically, now generates the conditions and feedback loops that may cause it to decline. The consequences are inevitably economic stagnation (or secular recession?).

You can read about the connection Tim Garrett makes between 'Wealth, Economic Growth, Energy and CO2 Emissions' simply by Googling 'Tim Garrett and Economy'.

ECONOMIC GROWTH WILL MAKE EVERYTHING WORSE

Hanns-Jürgen Hodann

Circular equations WIP for Runy.

Added several versions of the model. Added a flow to make C increase. Added a factor to be able to change the value 0.5. Older version cloned at IM-46280

Circularity in Economic models 2

Geoff McDonnell

3