Introductory Econometrics

Excel Add-In: Monte Carlo Simulation with Solver

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, MCSimSolver.xla, enables Monte Carlo simulation with Excel's Solver run every repetition from any Excel sheet. It utilizes a non-volatile random number function, RANDOMNV(), that does not change as Excel's Solver puts down trial solutions. Thus, it enables simulations with models that require numerical optimization, e.g., non-linear least squares.

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



Installation Instructions