Is Computer Modeling Essential for Understanding the Economy?

[PhilKravitz]

In EE when one has 40 transistor all agree that it is to complex for a person to understand without using computer simulation. In an economy with 7 billion people and millions of groups, organizations, corporation, governments most seem to feel that simple analogies are good enough to understand and predict what will happen.

Does anybody have any references to computer modeling of the economy? Thanks.

 

[EnumaElish]

http://en.wikipedia.org/wiki/Computable_general_equilibrium

See also:
http://www.npr.org/templates/story/story.php?storyId=95076198
http://en.wikipedia.org/wiki/Economic_model#Examples_of_economic_models
http://en.wikipedia.org/wiki/World3
http://en.wikipedia.org/wiki/Computational_Economics

 

[PhilKravitz]

Excellent references. Thank you.