First Summer School on Empirical Stock-Flow-Consistent Modelling

The summer school offers a comprehensive, hands‑on introduction to building empirical Stock‑Flow Consistent (SFC) models. Participants will work through the full process of developing an empirical SFC model grounded entirely in real‑world data. Because empirical SFC modelling involves navigating a wide range of methodological and practical challenges, the course places particular emphasis on applied skills that can later support theoretical work or policy analysis.

By the end of the week, participants will be able to construct a simple empirical SFC model and/or adapt the model developed during the sessions for their own research. While the focus is on learning the core components of empirical SFC modelling, the aim is not to produce a fully detailed or exhaustive model within five days. To keep the learning process tractable, several simplifying assumptions will be introduced. Participants will nonetheless acquire the tools needed to relax these assumptions and build more sophisticated models in their future work.

Application

Applications are open until 1st of May. Please submit your application using the button above, or the following link: https://forms.office.com/e/NCknF3REJ8

The application should include a brief description of the project or project idea that the applicant intends to develop during the summer school. Applicants who wish to be considered for a travel stipend should indicate this directly in the form.

Course Content

The programme is organised around five key themes:

1. Foundations of SFC Modelling and Empirical Challenges
   Introduction to the principles of SFC modelling and an overview of the conceptual and practical issues involved in working with real‑world data.
2. Constructing the Dataset
   Identifying, processing, and reconciling data sources to produce a coherent dataset suitable for empirical SFC analysis.
3. Building the Model Framework
   Translating accounting structures and behavioural assumptions into a model specification grounded in data.
4. Validating the Baseline Model
   Implementing estimation strategies, assessing model performance, and ensuring empirical consistency.
5. Scenario and Policy Analysis
   Using the model to evaluate economic scenarios and policy interventions.

Format and Structure

The summer school spans five days and prioritizes close interaction between participants and experienced SFC modellers.

• Morning lectures introduce the key concepts associated with each day’s theme.
• Workshop sessions where participants work directly with an assigned tutor to further develop their empirical SFC model.
• Daily seminars conclude the day, allowing participants to share progress, discuss challenges, and receive feedback.

Because the course is strongly project‑based, applicants should arrive with an already existing project, or a strong preliminary project idea they can begin developing from the first day.

Social Dinner and Travel Stipends

Participants are invited to a social dinner, funded by YSI.

A limited number of travel stipends will be available for participants both within and outside the EU. Applicants wishing to be considered for a stipend should indicate this in the application form.

 Contact

For any questions regarding the summer school, please contact mamtep@business.aau.dk using the subject line “Empirical SFC Summer School”.