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Buying and storing electricity when it is cheap, and selling it when it is expensive. What are the benefits, both public and private?

Smart Grid: Electricity storage and variable energy pricing

Carlos

14

COVID-19 outbreak in Burnie Tasmania Simulation Model

Introduction

This model simulates how COVID-19 outbreak in Burnie and how the government responses influence the economic community. Government responses are based on the reported COVID-19 cases amount, whcih is considered to be based on testing rate times number of people who are infected minus those recovered from COVID-19 and dead.

Government interventions include the implement of healthy policy, border surveillance, quarantine and travel restriction. After outbreak, economic activities are positively affected by the ecommerce channel development and normal economic grwoth, while the unemployement rate unfortunately increases as well.

Assumption

Enforcing government policies reduce both infection and economica growth.
When there are 10 or greater COVID-19 cases reported, the governmwnt policies are triggered.
Greater COVID-19 cases have negatively influenced the economic activities.
Government policies restict people's activities socially and economically, leading to negative effects on economy.
Opportunities for jobs are cut down too, making umemployment rate increased.
During the outbreak period, ecommerce has increased accordingly because people are restricted from going out.

Interesting insights

An increase in vaccination rate will make difference on reduing the infection. People who get vaccinated are seen to have higher immunity index to fight with COVID-19. Further research is needed.

Testing rate is considered as critical issue to reflect the necessity of government intervention. Higher testing rate seems to boost immediate intervention. Reinforced policies can then reduce the spread of coronvirus but absoluately have negative impacts on economy too.

Mengling Xue 561743 BMA708_Marketing insights into Big Data

Mengling Xue

climate change

jieyi zhang

Ijssel Delta Final

B G

Economic growth cannot go on forever, although politicians and most economist seem to think so. The activity involved in economic growth necessarily generates entropy (disorder and environmental degradation). Entorpy in turn generates powerful negative feedback loops which will, as a response from nature, ensure that economic activity will eventually grind to a complete halt. In these circumstances organised society cannot persist and will collapse. The negative feedback loops shown in this graph have already started to operate. The longer economic growth continues unabated, the more powerful these negative feedback loops will become. How long can economic growth continue before it is overwhelmed? It may not be very far in the future.

Entropy and Negative Feedback may stop Growth soon

Hanns-Jürgen Hodann

3

Based on chapter 14 of Modeling Dynamic Economic Systems

Quasi-competitive equilibrium model

Martín López Ramírez

213

Based on the SIR (Susceptible, Infected, Recovered) model of disease, this is an upgraded model with more specifc vaeriables.

Insights:

When the growth rate and the number of the recovered is much larger than deaths, the economic activity remain steady growing.

Model of COVID-19 outbreak in Burnie Tasmania

Yini Song

3

Graph representation of Ch3 of their 2007 Monetary Economics book, based on Alvarez and Ehnts 2015 paper The roads not taken. Also see more complex WIP to successively split sectors at IM-185550 . See also essence of MMT IM for simpler intro

Godley and Lavoie Simple Growth Model

Geoff McDonnell

Implementation of the Solow model of economic growth with labor enhancing technology.

parameters: s, alpha, delta, n, gA
variables: Y. K, L, C, A
per capita variables: y, k, c, a
per capita and technology variables: y~, k~, c~
steady state variables: y~*, k~*, c~*
all variables come with relative growth rates g

Features:

+steady state from beginning
+one time labor shock
+permanent savings quote shock
+permanent technological growth rate shock

Decreasing steady state variables when starting in steady state are numeric artifacts.

Solow growth model v1.0

Nils Hermes

Challenge p.212 Business Dynamics, Sterman

Oil Shortage 1979 Iran Revolution

Roland Kofler

3

This model shows the operation of a simple economy with two modifications made to Model 2 -- 1) feedback from production rate to consumption rate and 2) the use of a fractional rate input for calculating consumption rate.

In summary, lower fractional rates of consumption (based on production) result in higher levels of Savings.

Simple Economy: Model 3

Jim Berger

Model introduction

This is an SIR model that simulates the potential COVID outbreak that can happen in Burnie, Tasmania after the positive case reported on October 2nd 2021, which incorporates three parts: Susceptible – Infectious – Recovered Looping model, government’s health policy that will affect each phase of the SIR process, and the potential economy that will affect people’s behaviours and thus influence the effectiveness of government’s public policy.

For instance, the values of variables deciding the inflection rate are influenced by actions taken to control the situation, such as through the quarantine of those infected, social distancing, travel bans, and personal isolation and protection strategies. Conversely, the magnitude of the problem at various points in time will also influence the magnitude of the response to control the situation.

Assumptions

1. The population is assumed to be homogeneous and well-mixed. And there is no significant change on the total population due to births and deaths.

2. Once lockdown is lifted, no further imported cases are assumed to occur.

3. Super spreader events are not explicitly considered.

4. The interaction among states is assumed to be implicit.

5. All confirmed cases would go to quarantine, and 90% of their contacts can be traced.

6. Contact tracing and testing capacity is sufficient.

Insights

Ideally, both one-way scenario analysis and two-way scenario analysis (amount change in one/two variables each time) will be conducted to find out the variable that has the greatest impact on getting new cases. Insights below can be gained:

1.What happens if people are more/less likely to pass on infection, through washing their hands and sneeze into their elbows (infection rate affected by people’s behaviours that will further induced by government’s policies)

2. How vaccination rate will affect the development of positive cases

3. What if the structure of the contact network changes (extent to which school, workplace and restaurants is shut down)

4. How growth rate is sensitive to the duration of illness and probability of infection

SIR - Government - Economy model of COVID19 outbreak in Burnie, Tasmania AU

Ruixin Zhang

This model shows the operation of a simple economy. It demonstrates the effect of changes in the fractional rate of consumption (or the converse, the fractional rate of saving.) It also, unlike Models 2 & 3, shows the influence Savings has on the production rate.

In summary, lower rates of consumption (based on production) result in higher rates of both production and consumption in the long-run.

Simple Economy: Model 4

Jim Berger

4

This is a first attempt to illustrate the interconnected nature of the economic assets of Roswell - Chaves County

RCC economic model

Jens Deichmann

Economic Model

Stella Mosher

Overview of Part E Ch 20 to 24 of Mitchell Wray and Watts Textbook see IM-164967 for book overview

Economic policy in an open economy

Geoff McDonnell

9

Marine tourism and snorkeling in the maldives

Anna

5

This seeks to model increasing improvements in long run economic growth potential as the education level increases.

LR Economic Growth

Coby Joseph

A simple implementation of a Dynamic ISLM model as proposed by Blanchard (1981), and taken from An introduction to economic Dynamics - Shone (1997) - chapter 5. This model might serve as a framework to evaluate economic policies over GDP growth.

Dynamic ISLM Model

Fernando Fernandes Neto

This model analyzes the interaction between climate change mitigation and adaptation in the land use sector using the concept of forest transition as a framework.

Forest Transition

Martín López Ramírez

4

This model is based off Meadows economic capital with reinforcing growth loop constrained by a renewable resource model.

Tourism Simulator

JP Burklow

4

ABOUT THE MODEL

This is a dynamic model that shows the correlation between the health-related policies implemented by the Government in response to COVID-19 outbreak in Burnie, Tasmania, and the policies’ impact on the Economic activity of the area.

ASSUMPTIONS

The increase in the number of COVID-19 cases is directly proportional to the increase in the Government policies in the infected region. The Government policies negatively impact the economy of Burnie, Tasmania.

INTERESTING INSIGHTS

1. When the borders are closed by the government, the economy is severely affected by the decrease of revenue generated by the Civil aviation/Migration rate. As the number of COVID-19 cases increase, the number of people allowed to enter Australian borders will also decrease by the government.

2. The Economic activity sharply increases and stays in uniformity.

3. The death rate drastically decreased as we increased test rate by 90%.

COVID-19 Outbreak in Burnie Tasmania (Rajaa Sajjad, 538837)