This is a collection of toy models built to develop my Python skills and revise key topics in economics
Walras
This game illustrates Walrasion equilibrium in a pure exchange market. Users can choose the number of market agents, who all have homogeneous degree 0 Cobb-Douglas preferences. Each agent is randomly allocated an endowment of the two goods. The user can then specify a price vector and the model then calculates the excess demand of the two goods.
The command "excessdemand()" executes the model.
Walras Sim
This is a simulation of pure exchange market, where the user specifies the number of agents and initial prices. Prices then adjust over a number of periods in 0.1 increments.
Outputs illustrate how excess demand approaches zero and what the implied market-clearing prices are for each of the two goods.