MATLAB® (short for Matrix Laboratory) is a high-level technical computing language and interactive environment for algorithm development, data visualization, data analysis, and numeric computation (Mathworks, 2009).
MatLab allows greater flexibility compared to other software with statistical/econometric applications such as Stata or SAS.
Microsoft Office Excel 2007 is a powerful tool you can use to create and format spreadsheets, and analyze and share information to make more informed decisions (Microsoft, 2009).GAMS
Excel is a convenient application particularly when it comes to creating graphs or doing simple calculations that do not require programming.
General Algebraic Modeling System. Software used for mathematical programming.
Stata is a complete, integrated statistical package that provides everything you need for data analysis, data management, and graphics (Stata, 2009). It is rather user-friendly statistical software with a large variety of "build-in" functions and models. On the other hand, it lacks the flexible that other software (i.e. Matlab) provide.
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