Economic Dynamics
Phase Diagrams and their Economic Application

The substantially revised and restructured 2nd edition of Ron Shone's successful textbook Economic Dynamics.

Ronald Shone (Author)

9780521017039, Cambridge University Press

Paperback, published 28 November 2002

724 pages
24.7 x 17.6 x 4.5 cm, 1.407 kg

"This book is written primarily for undergraduates in economics who have a good grasp of mathematics and computing...the chapters are well chosen and the book is an excellent read." Computing Reviews

This is the substantially revised and restructured second edition of Ron Shone's successful advanced textbook Economic Dynamics. The book provides detailed coverage of dynamics and phase diagrams, including: quantitative and qualitative dynamic systems, continuous and discrete dynamics, linear and non-linear systems and single equation and systems of equations. It illustrates dynamic systems using Mathematica, Maple V and spreadsheets. It provides a thorough introduction to phase diagrams and their economic application and explains the nature of saddle path solutions. The second edition contains a new chapter on oligopoly and an extended treatment of stability of discrete dynamic systems and the solving of first-order difference equations. Detailed routines on the use of Mathematica and Maple are now contained in the body of the text, which now includes advice on the use of Excel and additional examples and exercises throughout. Supporting website contains solutions manual and learning tools.

Preface to the second edition
Preface to the first edition
Part I. Dynamic Modelling: 1. Introduction
2. Continuous dynamic systems
3. Discrete dynamic systems
4. Systems of first-order differential equations
5. Discrete systems of equations
6. Optimal control theory
7. Chaos theory
Part II. Applied Economic Dynamics: 8. Demand and supply models
9. Dynamic theory of oligopoly
10. Closed economy dynamics
11. The dynamics of inflation and unemployment
12. Open economy dynamics: sticky price models
13. Open economy dynamics: flexible price models
14. Population models
15. The dynamics of fisheries
Answers to selected exercises
Bibliography
Author index
Subject index.

Subject Areas: Applied mathematics [PBW], Microeconomics [KCC], Macroeconomics [KCB], Economics [KC]