Simetar Does Not Work on Office 365. Do Not Download Simetar if You Have Office 365 Installed.
Simetar©: Simulation & Econometrics to Analyze Risk is an Excel Add-In developed since 1997 at Texas A&M. University by James W. Richardson, Keith D. Schumann and Paul A. Feldman. The software was initially developed to provide simulation and graphical analysis tools for conducting risk analysis of policy changes on agribusinesses. As Simetar’s capabilities grew, it was used to teach graduate courses in simulation and risk analysis at Texas A&M.
Simetar© requires little additional memory and operates efficiently on Windows computers using Windows 7, 8, or 10 running Excel 2013 or 2016. Simetar© consists of both Menu Driven Functions and User Defined Functions that run in Excel. A common theme with Simetar©, is that all functions are dynamic; so if changes are made to the original data most all parameters, hypothesis tests, regression models, and risk ranking strategies are automatically updated. This feature of having Excel dynamically recalculate parameters offers significant efficiencies during the development, validation and verification steps for developing stochastic simulation models.
The more than 250 User Defined functions in Simetar© can be categorized into six groups: (1) random variables for simulation, (2) statistical analyses and tests, (3) graphical analyses, (4) ranking risky alternatives, (5) data manipulation and analysis, (6) econometric modeling, and (7) forecasting. Simetar© can be used to perform all of the steps for developing, simulating, and applying a stochastic model, namely: estimating parameters for random variables, simulating stochastic variables, testing the validity of the random variables, presenting the results graphically, and ranking risky alternatives.
Simetar© was designed to provide simulation modelers the risk analysis tools needed to build a comprehensive simulation model, simulate the model for multiple scenarios, validate the simulation results, rank risky scenarios, and display the results using graphical aids. The list of risk analysis tools included in Simetar© came from the more than 40 years of simulation experience Dr. Richardson has from conducting risk analyses of policy changes. Additional capabilities have been added to Simetar© over the past three years after using it to teach simulation workshops both domestically and abroad. During the past year, significant improvements and additions have been made to the multiple regression tools, statistical validation tests, graphical capabilities, and random number generation routines.
Simetar© has been used to teach more than two dozen graduate classes at Texas A&M since 2000. More than 850 students put Simetar© to the test, providing feedback that improved the design and flexibility. Simetar© has been used extensively by researchers and teachers at policy centers and applied economics departments across the U.S. and Europe for the past 15 years. The Food and Agricultural Policy Research Institute uses Simetar© for their econometrics estimation as well as simulation and graphical display of results. Simetar© has been used for teaching risk analysis at several universities in the US and abroad.