Challenges and Opportunities of Using Simulation Models in Forecasting  Socio-economic Development of the Region

APA 6th edition
In-text: (Barkalova, Kokotkina & Tsaregorodtsev, 2016)
Your Bibliography: Barkalova, T.G., Kokotkina, T.N. & Tsaregorodtsev, E.I. (2016). Challenges and Opportunities of Using Simulation Models in Forecasting Socio-economic Development of the Region. International Journal of Environmental and Science Education, 11(17), 10661-10671.

Harvard
In-text: (Barkalova, Kokotkina and Tsaregorodtsev, 2016)
Your Bibliography: Barkalova, T., Kokotkina, T. and Tsaregorodtsev, E. (2016). Challenges and Opportunities of Using Simulation Models in Forecasting Socio-economic Development of the Region. International Journal of Environmental and Science Education, 11(17), pp. 10661-10671.

Chicago 16th edition
In-text: (Barkalova, Kokotkina and Tsaregorodtsev 2016)
Your Bibliography: Barkalova, Tatjana G., Tatjana N. Kokotkina and Evgeny I. Tsaregorodtsev (2016). "Challenges and Opportunities of Using Simulation Models in Forecasting Socio-economic Development of the Region". International Journal of Environmental and Science Education 11 (17):10661-10671.

Abstract

The article is devoted to simulation modeling as a forecasting tool of socio-economic development of the region. It highlights the main advantages and disadvantages of the method, analyses the existing approaches and the constructed models, compares the results and draws conclusions about the applicability of simulation models. On the basis of this study there are assumptions about the future usage of simulation modeling for forecasting of socio-economic development of the region.

Keywords: Forecasting, programming models, econometric software

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