System dynamics and its applications

Abstract

System Dynamics is one of the best tools – perhaps even the best tool to understand complex managerial issues, guide decisions and inform policy formulation. Among all available management support tools, it is one of the simplest to learn and one of the easiest to implement. It is versatile, powerful and supported by reliable software packages. Although the President of Mali is reported to have requested that a system dynamics model built to suggest favourable socio-economic long-term policies for his country should reside permanently on his table, system dynamics is practically unknown in Africa and generally ignored. Yet, a widespread capability for critical assessment, as it exists in the western world, is highly desirable at every level of command in Africa. It is therefore important to disseminate the relevant knowledge. Very few African universities do so. AUN is a commendable exception: one of only three or four in Africa and the only one in Nigeria. This seminar is a modest contribution to this task. The power of system dynamics is illustrated by thought-provoking simulation experiments with a model of the Nigerian socio-economy.