Why agent-based modelling is useful for economists -- Starting agent-based modelling -- Heterogeneous demand -- Social demand -- Benefits of barter -- The market -- Labour market -- International trade -- Banking -- The tragedy of the commons

None of the standard network models fit well with sociological observations of real social networks. This paper presents a simple structure for use in agent-based models of large social networks. Taking the idea of social circles, it incorporates key aspects of large social networks such as low...