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

LR Economic Growth

Coby Joseph

Economic Model

Stella Mosher

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 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

Irving Fisher's Debt Deflation Theory from Michael Joffe Fig. 3.4 p54 Ch3 Feedback Economics Book with Private Credit Inflation boom added to the bust cycles

Irving Fisher's Debt Deflation Theory

Geoff McDonnell

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

Tourism Simulator

JP Burklow

4

WIP Ideas from Science Special Issue May 2014

The Science of Inequality

Geoff McDonnell

4

Based on the Market and Price simulation model in System Zoo 3.

I wrote an explanation of the model which you can find here: https://kdrive.infomaniak.com/app/share/1524656/f05f288f-6b27-4b32-87aa-46114dccc956

Z504 Market and Price - System Zoo 3

Henny van Dongen

8 4 months ago

This model shows the operation of an extremely simple economy. The system produces and consumes each item (or good) at a fixed rate.

When production exceeds consumption, consumer goods accumulate in stocks. Trading may occur between actors in this system. That will not, however, affect the quantities of the stocks of goods. It only affects ownership (not a concern of this model.)

Simple Economy: Model 1

Jim Berger

4

Extended from Im-628 Supply and demand by adding control folder.

See also Managing Health Services Use IM-17566

Based on JHPPL 2015 article Note here the framing is an economic exchange rather than a public service (needs-services-resources) or capabilities

Neoliberalism and health policy

Geoff McDonnell

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

3

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)

Rajaa Sajjad

3

Commercial aviation economic activity in the EU

刘翱玮

This simple model describes wealth accumulation. The value in income is described by the following simple equation:

simple wealth accumulation model 1.1

Larry Lee

20

This is to support a discussion on money flows and growth. Money as a lubricant for the flow of embodied energy in human systems.
See also A Prosperous Way Down website

Odum Money and Energy Flows

Geoff McDonnell

I made this model to simulate how a companies revenue will change depending on the lifetime of the appliances it manufactures, in combination with the ratio of repair costs and price. It also shows the accumulation of e-waste.

Appliances lifetime simulation with folder

Henny van Dongen

• This model examines how sustainable consumerism is from social, economic, and environmental aspects. The question in focus is "How will our second-hand clothing donations affect communities in developing countries, specifically Kenya?"

5 Stock Variables:

• U.S. Consumers

• Multinational Corporations

• Overseas Factories

• Kenya

Highlight Findings:

To sum up, there are 4 major problems associated to donations:

• 1. Source of problem is the consumer: Cheap deals attract hundreds of millions in revenue for fast fashion, and contribute to 100,000 tonnes of clothing to Kenya annually.

• 2. Rapid consumerism leads to over-utilization of slowly-renewable resources, such as water.

• 3. Nearly 96% of textiles jobs are eradicated by the massive inflow of clothing donations to Kenya.

• 4. The offshoring of textiles jobs enrages U.S. blue-collar workers, leading to the rise of protectionism.

Environmental, social, and economic sustainability aspects of textiles donations

Christina Cheung

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

8

This model is developed to simulate how Burnie can deal with a new outbreak of COVID-19 considering health and economic outcomes. The time limit of the simulation is 100 days when a stable circumstance is reached.

Stocks

There are four stocks involved in this model. Susceptible represents the number of people that potentially could be infected. Infected refers to the number of people infected at the moment. Recovered means the number of people that has been cured, but it could turn into susceptible given a specific period of time since the immunity does not seem everlasting. Death case refers to the total number of death since the beginning of outbreak. The sum of these four stocks add up to the initial population of the town.

Variables

There are four variables in grey colour that indicate rates or factors of infection, recovery, death or economic outcomes. They usually cannot be accurately identified until it happen, therefore they can be modified by the user to adjust for a better simulation outcome.

Immunity loss rate seems to be less relevant in this case because it is usually unsure and varies for individuals, therefore it is fixed in this model.

The most interesting variable in green represents the government policy, which in this situation should be shifting the financial resources to medical resources to control infection rate, reduce death rate and increase recovery rate. It is limited from 0 to 0.8 since a government cannot shift all of the resources. Bigger scale means more resources are shifted. The change of government policy will be well reflected in the economic outcome, users are encouraged to adjust it to see the change.

The economic outcome is the variable that roughly reflects the daily income of the whole town, which cannot be accurate but it does indicate the trend.

Assumptions:

The recovery of the infected won't happen until 30 days later since it is usually a long process. And the start of death will be delayed for 14 days considering the characteristic of the virus.

Economic outcome will be affected by the number of infected since the infected cannot normally perform financial activities.

Immunity effect is fixed at 30 days after recovery.

Interesting Insights:

In this model it is not hard to find that extreme government policy does not result in the best economic outcome, but the values in-between around 0.5 seems to reach the best financial outcome while the health issues are not compromised. That is why usually the government need to balance health and economic according to the circumstance.

New outbreak of COVID-19 in Burnie

Hank

When people talk about a government deficit, they forget that this is only one side of the ledger. On the other is a corresponding non-government SURPLUS. The money the government spends is not lost but shows up in the private sector as income. When one talks only of the deficit then one can understand that many think it should be reduced or even converted into a surplus, but reducing the government deficit reduces private sector income and a government surplus forces a deficit on the private sector with a potentially devastating effect on private sector wealth and economic activity. Unless the economy is overheating, government deficits are usually healthy. For countries that run traditionally a trade deficit, such as the US they are necessary to maintain economic activity. Consider this fact: for almost all of past 40 years the US and the UK have run deficits without any harmful effects!

This video by professor Stephanie Kelton contains evidence that supports the modle.

https://www.youtube.com/watch?v=g6rlprwQB5E

The Dynamic that shows that Government Deficits benefit the Private Sector

Hanns-Jürgen Hodann

WIP of Rammelt's 2019 System Dynamics Review Article which has STELLA and Minsky software versions as supplements. Compare with the older IM-2011 version

Simplified Keen Goodwin Minsky Financial Instability model

Geoff McDonnell

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

Introduction

This model simulates the COVID-19 outbreaks in Burnie, the government reactions, as well as the economic impact. The government's strategy is based on the number of COVID-19 cases reported and testing rates and recovered.

Assumptions

In the same trend that government policy decreases infection, it also reduces economic growth.

When there are ten or fewer COVID-19 cases reported, government policy is triggered.

The economy suffers as a result of an increase in COVID-19 cases.

Interesting insights

The higher testing rates appear to result in a more quick government response, resulting in fewer infectious cases. However, it has a negative influence on the economy.

Model of COVID-19 outbreak in Burnie Tasmania - Xiaoqing Ren 525418

Xiaoqing Ren

HANDY Model of Societal Collapse from Ecological Economics Paper