Understanding the core ideas of Agent-based modelling (ABM)Getting an idea of applications of ABM as research approach in business and economics including its virtues and drawbacksGetting a basic understanding of how to implement agent-based models including some computer exercises (but: this course is not a programming course!)

Lecture, discussion, students' presentation, computer exercises.Please, have a notebook with MS-Excel or a comparable spreadsheet tool installed with you.

Agent-Based Modelling: A Brief IntroductionConcepts of Rationality in Business and Economics: A Brief IntroductionBuilding Agent-Based Models: Basic Introduction and Some Computer ExercisesAgent-Based Computational EconomicsExamples of Research Studies Employing Agent-Based Models (Students’ Presentations)Agent-Based Modelling as a Research Approach: Virtues and Drawbacks

Chang M-H, Harrington JE (2006) Agent-based Models of Organizations. In: Tesfatsion L, Judd KL (eds) Handbook of Computational Economics: Agent-based Computational Economics, vol 2. Elsevier, Amsterdam, pp 1273-1337Macal CM, North MJ (2010) Tutorial on Agent-based Modelling and Simulation. Journal of Simulation 4 (3):151-162Simon, H. A. 1955. A behavioral model of rational choice. Quarterly Journal of Economics 69 (1):99-118.Squazzoni F (2010) The Impact of Agent-based Models in the Social Sciences. History of Economic Ideas 18 (2):197-233Wall F (2016) Agent-based Modeling in Managerial Science: An Illustrative Survey and Study. Review of Managerial Science 10(1):135-193Further literature will be mentioned in the course's material.

Short oral presentation (15 min.) and a paper of 12 pages at maximum (not including index, references, appendix...).

To each examinee a research paper employing agent-based modelling will be assigned.The oral presentation is intended to give a short overview about the research question and the agent-based model in that paper.The paper should in depth show/discuss how the research question is captured by the agent-based model employed in the research paper.

Attendance of at least 75%.For the presentation and the paper:correctness and clarity (i.e., are the key ideas of the research paper correctly and concisely captured and presented).For the paper additionally:Elaboration of how the agent-based model reflects the research question of the paper.