To get the dynamic list from your model you can do two things. You can either have the model write the javascript array for you, so in your view you would write server side code @... that writes out javascript.

Another option is to have the  autocomplete pull the data from an action method via ajax.
http://jqueryui.com/demos/autocomplete/#remote

Something like:

//js
$( "#birds" ).autocomplete({
			source: "/Home/AutoComplete",
			minLength: 2,
			select: function( event, ui ) {
				log( ui.item ?
					"Selected: " + ui.item.value + " aka " + ui.item.id :
					"Nothing selected, input was " + this.value );
			}
		});

// Controller
public ActionResult AutoComplete(string q){
  var data = //get from db where q = whatever
  return Json(data,JsonRequestBehavior.AllowGet);
}