Introduction to Dynamic Models

Abstract

Focusing on economic analysis rather than mathematics (unlike other books in the field), this text offers an introduction to economic dynamics - how the economy adjusts over time. 1. Introduction -- 2. Differential Equations -- 3. Second Order Differential Equations -- 4. Systems of Differential Equations -- 5. Dynamic Economic Models -- 6. Optimal Control Models -- 7. Infinite Horizon Control Models -- 8. Stochastic Control Models -- 9. Conclusion.