Simulations (and models, too) are abstractions of reality. Often they deliberately emphasize one part of reality at the expense of other parts. Sometimes this is necessary due to computer power limitations.A simulator is a device that may use any combination of sound, sight, motion and smell to make you feel that you are experiencing an actual situation.
Modelling - a scholarly journal which came into being in 1984 - fills a major gap in the economics literature, providing a single source of both theoretical and applied papers on economic modelling. The journal's prime objective is to provide an international review of the state-of-the-art in economic modelling.
Modelling has so far published the complete versions of many large-scale macroeconomic models (for advanced and less developed countries and both closed and open economies) which have been developed for policy analysis. Examples are the Bank of England Model and the US Federal Reserve Board Model. As individual models are revised and updated, the journal continues to publish subsequent papers dealing with these revisions, including structural macro-modeling in a VAR framework or in the latest DSGE settings.