Using agent based modelling allows researchers to explore how the interactions of the agents influences the macro variables such as average prices, unemployments in a closed economic system. It also allows us to explore every agent individually taking analysis to even minute details which may be causing an affect on a larger scale on the whole system. This gives a better understanding of the inner working of complex systems very close to reality.
The animated image shows the interaction between the firms and people as time progresses. The firms and people both communicate through malls. The various interactions of the agents - people applying for jobs, malls selling goods - varies as time progresses. This influences the average wage and price of the products in the system.
The graph plots the price, sold and production for one firm in the system. The graph shows how each variable affects the other. If prices are higher this reduces the amount sold by the firm.
The graph plots the average data of the people agents in the system. Various relationships can be deduced from the graph. The vacancies and unemployment have an inverse relationship and price has a direct relationship with the wages of the people.