Our work in general focuses on economy/market driven resource management architecture for the Grid; and in particular on resource brokering and scheduling through a user-level middleware system called Nimrod/G and economy of computations through a system-level middleware infrastructure called GRACE (GRid Architecture for Computational Economy). Nimrod/G supports modeling of a large-scale parameter study simulations (parameter sweep applications) through a simple declarative language or GUI and their seamless execution on global computational Grids. It uses GRACE services for identifying and negotiating low cost access to computational resources. The Nimrod/G adaptive scheduling algorithms help in minimising the time and/or the cost of computations for user defined constraints. These algorithms are evaluated in different scenarios for their effectiveness for scheduling parameter sweep applications in Grid environments such as GRACE and core middleware (Globus, Legion, and/or Condor-G) enabled federated Grids.