INTRODUCTION   

 This is a balanced loop model that demonstrates how COVID
19 outbreak in Burnie and the response of the government (e.g. by enforcing health
policies: Lockdown; quarantine, non-necessary business closure; border closure)
affect the local economy.  This model has 13 positive loo

INTRODUCTION

This is a balanced loop model that demonstrates how COVID 19 outbreak in Burnie and the response of the government (e.g. by enforcing health policies: Lockdown; quarantine, non-necessary business closure; border closure) affect the local economy.  This model has 13 positive loops and seven negative loops.  Government response is dependent on the number of reported COVID-19 cases which in turn thought to be dependent on the testing rates less those who recovered from COVID 19 and dead. Economic activity is dependent on the economic growth rate, increased in online shopping, increased in unemployment, number of people who do not obey the rules, COVID 19 cases and health policies.

 ASSUMPTIONS

 · Both infection and economic growth is reduced by enforcing government policies

 · However, the negative effect of government policies is reduced by the number of people who do not obey government health policies

 · Govt policies are enforced when the reported COVID-19 case are 10 or greater.

 ·     Number of COVID cases reported is dependent on the testing rates less those who recovered and dead.

 ·   The higher number of COVID-19 cases have a negative effect on local economy. This phenomena is known as negative signalling. 

 ·   Government policies have a negative effect on economic activity because health policies limit both social and economic activities which directly or indirectly affect the economy in Burnie .  

 ·  This negative effect is somewhat reduced by the increase in online shopping and the number of people who do not obey heath rules.

 INTERESTING INSIGHTS

The test ratings seem to play a vital role in controlling COVID-19 outbreak. Higher Rates of COVID testings decrease the number of COVID 19 deaths and number of infected. This is because higher rates of testing accelerate the government involvement (as the government intervention is triggered earlier, 10 COVID cases mark is reached earlier). Delaying the government intervention by reducing the COVID testing rates increases the death rates and number of infected. 

Increased testing rates allow the figures (deaths, susceptible, infected) to reach a plateau quickly. 





 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 MECHAN

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?

Very basic stock-flow diagram of compound interest with table and graph output in interest and savings development per year. Initial deposit, interest rate, yearly deposit and withdrawal can all be modified.
Very basic stock-flow diagram of compound interest with table and graph output in interest and savings development per year. Initial deposit, interest rate, yearly deposit and withdrawal can all be modified.
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  
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  
From Jay Forrester 1988 killian lectures youtube  video  describing system dynamics at MIT. For Concepts See  IM-185226 . For more detailed biography See Jay Forrester memorial  webpage  For MIT HIstory see  IM-184930
From Jay Forrester 1988 killian lectures youtube video describing system dynamics at MIT. For Concepts See IM-185226. For more detailed biography See Jay Forrester memorial webpage For MIT HIstory see IM-184930
  Explanation:    Explanation:  This model presents the COVID-19 outbreak in Burnie and how the government reacts to it. Moreover, the model also illustrates how the economy in Burnie is impacted by the pandemic. The possible stages of residents when the infectious disease spreads in Burnie can be c
Explanation:
Explanation:
This model presents the COVID-19 outbreak in Burnie and how the government reacts to it. Moreover, the model also illustrates how the economy in Burnie is impacted by the pandemic. The possible stages of residents when the infectious disease spreads in Burnie can be concluded as Susceptible, Infection and Recovery, which are used as the main data in this model. However, the improvement of decreasing of reported infection rates of this infectious disease and increasing of recovery rates are contributed by the implementation of the Government Health Policy. 

Assumption
The decrease of both infection rate and economic growth are all influenced by the Government Health Policy simultaneously. The Government Health Policy is only triggered when there are 10 cases reported. However, the increase in reporting COVID-19 cases affects economic growth negatively. 

Interesting Insights:
There are two interesting insights that have been revealed from the simulation. First, the death rate continuously increased even though the infection rate goes down. However, the increase in testing rates contributed to the stability of the death rate towards the end of the week. Moreover, higher testing rates also trigger faster government intervention, which can reduce infectious cases.  Second, as the Government Health Policy limited the chance of going out and shopping, the economic growth is negative due to the higher cases. 

Book Summary of The Great Transformation by Karl Polanyi see  Wikipedia  . See also more Karl Polanyi ideas  IM-181325
Book Summary of The Great Transformation by Karl Polanyi see Wikipedia . See also more Karl Polanyi ideas IM-181325
 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

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'.

Simplification of Prevention Investment Framework  (private) IM  See WIP integrating with economic view  insight (private)  and  multiscale version IM private
Simplification of Prevention Investment Framework (private) IM See WIP integrating with economic view insight (private) and multiscale version IM private
Summary of Ch1 of Mitchell Wray and Watts Textbook see  IM-164967  for overview
Summary of Ch1 of Mitchell Wray and Watts Textbook see IM-164967 for overview
Summary of Ch 27 of Mitchell Wray and Watts Textbook see  IM-164967  for book overview See  IM-169093  for added dynamic evolutionary economics history
Summary of Ch 27 of Mitchell Wray and Watts Textbook see IM-164967 for book overview See IM-169093 for added dynamic evolutionary economics history
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
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
Assignment 1-  Part 2 Energy Economics and Fossil Fuels
Assignment 1- Part 2 Energy Economics and Fossil Fuels
This model shows the structure and operation of a simple economy. It can represent economic systems at different levels of abstraction (e.g. a single good, a group of goods, multiple groups, & an "economy.")  This model has one significant difference from Model 4. The  fractional consumption rat
This model shows the structure and operation of a simple economy. It can represent economic systems at different levels of abstraction (e.g. a single good, a group of goods, multiple groups, & an "economy.")

This model has one significant difference from Model 4. The fractional consumption rate table serves the purpose of demonstrating the effects of changes in the fractional consumption rate (or the converse the fractional rate of saving) from 100% to less-than 100% to more-than 100%.

It demonstrates dramatically the effects of significant changes in consumption rates.