VISUALIZATION CAPABILITIES OF SIMULATION OF ECONOMIC PROCESSES

Peteris Grabusts

Abstract


Educational experience shows that during the research process researchers perceive graphical information better than analytical relationships. Many economic courses operate with models that were previously available only in mathematics and physics disciplines. As a possible solution, there could be the use of the package Matlab Simulink in the realization of different algorithms both for engineering disciplines and economic studies. The article substantiates the usefulness of implementing the simulation models during the early stage of the research, when in parallel to acquiring analytical relations, simulation models may be introduced. The aim of the article is to show Matlab Simulink suitability for the purpose of visualizing simulation models of various economic disciplines.  To reach the aim, the following research tasks have been set: identification of Matlab Simulink possibilities for simulation of economic processes; demonstrate visualization models on the basis of examples; visualization of time series model using Latgale unemployment rate data. The article presents examples of using simulation modeling in the economic research processes - optimal tax rate searching and time series application. Common research methods are used in this research: descriptive research method, statistical method, mathematical modeling.


Keywords


Matlab Simulink; modeling; simulation; teaching; visualization

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DOI: https://doi.org/10.17770/lner2016vol1.8.1479

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