Economic dynamics

Treating the mathematical methods used in economic dynamics, this book shows how they are utilised to build and analyse dynamical models. Accordingly, the focus is on methods, and every new mathematical technique introduced is followed by its application to select economic models. The mathematical methods covered range from elementary linear difference and differential equations and simultaneous systems, to the qualitative analysis of non-linear dynamical systems. Stability considerations are stressed throughout, including many advanced topics, while also dealing with ssynergetics and catastrophy theory. Readers are guided step-by-step through each topic, be it a mathematical method or an economic model. The study edition additionally provides solutions to the numerous exercises.