This course explains the concepts underlying DICE simulation in simple non-technical terms and then shows how they are implemented to structure everything from simple survival partition through Markov models, microsimulation and discrete event simulation. The course covers the components, the mechanics of implementing them, what to focus on during the model design, how to specify a DICE simulation in Excel and how to execute the model. This will include deterministic and probabilistic sensitivity analyses, scenarios and other analytic approaches. The method will be placed in the context of existing taxonomies of modeling techniques to facilitate a comparison with the traditional methods. Implementation of both Markov models and discrete event simulations, and their combination, within the DICE paradigm will be illustrated by building live examples.