How to get numbers out of a model?

In this week we want to learn how to actually solve our numerical models, and produce the numbers we want to interpret.

In week 3 you learned how to design an optimization or equilibrium model. In week 4 you developed you first model ideas for your respective assignment and received feedback on your ideas. With this you are able to design your very first model.

Given your model formulation we will first have a look at the different model sub-types and what this means for the computation of your model (Step 5.2). Afterwards we will check what parts of you model you will need input data for (Step 5.4). Both restrictions may lead to a re-design of the model to ensure that you actually can get a numerical solution.

Once the model is computationally feasible, the mathematics make sense, and all the data is plugged in, results can finally be produced. Which means numbers. Numbers which have to be interpreted with our problem in mind (Step 5.5). On the one hand, all our results have to be filtered and be boiled down to meaningful aggregates or representative cases. On the other hand, they have to be presented.

Numerical models have the advantage that they are well suited to produce simple yet meaningful graphical representation of complex processes.