Introductory Econometrics

Excel Add-In: Monte Carlo Simulation

Warning: When you download the add-in, make sure that you save it as an ".xla" file. Internet Explorer often changes the file extension to ".xls".

This add-in, MCSim.xla, enables Monte Carlo simulation from any Excel sheet. The logic is quite simple: you select a cell that has or depends upon a random number (using either Excel's RAND or our RANDOM function) and the add-in recalculates the sheet for as many repetitions as you request. It outputs the results to a new sheet with summary statistics and a histogram. You may Monte Carlo more than one cell and you have several other options.

The Installation Instructions link below explains how to install and use the add-in. Right-click to download the MCSim.xla file when you are ready.



Installation Instructions