Abstract

General equilibrium macroeconomic models are a basic tool for understanding how the economy functions, how the main macroeconomic variables are related, and the final outcome of economic policies. The teaching of these models is essentially achieved through a system of mathematical equations accompanied by the use of concatenated graphs representing the markets involved in the economy. However, the way these graphs are traditionally taught does not allow the learner to easily understand how they are related or for changes in a model's graphical outputs (curves) to be visualized. Here, a simulation program is presented and the effectiveness of its application to a group of macroeconomics students at the University of Seville during the 2011/12 academic year is evaluated. Analysis of variance (ANOVA) of all students' scores and some complementary statistical tests were applied with a view to distinguishing between students who used the simulator with the aid of a teacher, students who used the simulator without this assistance, and students who studied the topic in a conventional manner in the classroom. The average score obtained by the first-mentioned group in a model comprehension test was significantly higher than that of the second group, which in turn was higher than that of the third group taught using the conventional approach.