REVIEW ON SYSTEM DYNAMICS MODELING APPROACH TO MACROECONOMIC VARIABLES IN NIGERIA

Authors

  • Dariyem Naandi Kruslat Directorate of Research, National Institute for Policy and Strategic Studies, Kuru, Nigeria Author
  • Msugh Moses Kembe Department of Mathematics and Computer Science, Benue State University, Makurdi-Nigeria Author
  • Bamaiyi Garba Directorate of Research, National Institute for Policy and Strategic Studies, Kuru, Nigeria Author
  • Ismaila Sulaiman Department of Statistics, Nasarawa State University, Keffi, Nasarawa State, Nigeria Author

Keywords:

System Dynamics (SD), System Dynamic Modelling (SDM), Stocks, Feedback, Macroeconomic  variables

Abstract

The application of system dynamics to national economics modelling is becoming more acceptable, particularly for 
refining economic policies and forecasting. This study is focused on the targeted application of system dynamics 
modeling to the macroeconomic policy scenarios of Nigeria, spinning toward a transformative paradigm shift that 
harness this methodology for effective modelling of macroeconomic variables. The article understudies an 
innovative approach to reviewing economic variables within the framework of national economies, showing the 
innate potentials of system dynamics to unravel the complexities inherent in dynamics and nonlinear 
macroeconomics systems. A fundamental focus is placed on the important interplay between constituent elements 
within the system structure, with particular attention accorded to the pivoted stages of model conceptualization. 
Through this systematic review, the article serves to provide and enrich the comprehension of macroeconomic 
system bahaviour in Nigeria, with the ultimate aim of steering the design of more adept impactful macroeconomic 
policies. 
 

Published

2026-04-24

Issue

Vol. 4 No. 1 (2024): IJARMS (Vol4 No1 JUNE 2024)

Section

Articles