through aggregate prices. On the other hand, ACE models may exaggerate errors in individual decision-making, since the strategies assumed in ACE models may be very far from optimal choices unless the modeler is very careful. A related issue is that ACE models which start from strategies instead of preferences may remain vulnerable to the Lucas critique: a changed policy regime should generally give rise to changed strategies. See also Economic model Mathematical model Macroeconomics Economics Econometrics Computational economics Lucas critique Dynamic stochastic general equilibrium Agent-based computational economics History of macroeconomic thought Time series MONIAC, an analogue computer which used fluidic logic to model the workings of an economy References External links Classical & Keynesian AD-AS Model - An on-line, interactive model of the Canadian Economy FAIRMODEL - US models to download JAMEL - An on-line, interactive agent-based macroeconomic model Macroeconomic forecasting Economics models