I was just chatting to one of my colleagues about a workshop I recently attended on "Agent-Based Modeling of Environmental Challenges and Climate Policy". There I met many economists that talked about ABM. Now I was wondering how this differs ACE. I assume that the first defines a modelling method and the latter defines the application of this method. But I might be completely wrong ...
I agree with you that a possible interpretation is that ACE is the application of ABM in economics. The acronym ACE has gained visibility also thank to the work of Leigh Tesfatsion (see for instance the Handbook of Computational Economics Vol. III and the website: http://www2.econ.iastate.edu/tesfatsi/ace.htm). But you may find alternative definitions and acronyms as for example MAS (Multi Agent Systems), MABS (Multi Agent-Based Simulation), MABM (Macroeconomic Agent Based Models). Another known acronym is HIA (Heterogeneous Interacting Agents). The main aspect however is always the application of Agent Based Modelling to Economics to highlight the role of heterogeneity and interaction in explaining complex (economic) dynamics, thus stressing the fact that in a (complex) economic system the micro can be different from the macro.
There are also agent-based computational finance, agent-based computational sociology, agent-based computational demography, agent-based computational archeology etc. in social sciences.
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