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Modeling Dynamic Economic Systems

  • Textbook
  • © 1997

Overview

Authors:
  1. Matthias Ruth

    1. Center for Energy and Environmental Studies and the Department of Geography, Boston University, Boston, USA

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    You can also search for this author in PubMed   Google Scholar

  2. Bruce Hannon

    1. Department of Geography, University of Illinois, Urbana, USA

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    You can also search for this author in PubMed   Google Scholar

Part of the book series: Modeling Dynamic Systems (MDS)

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Table of contents (33 chapters)

  1. Front Matter

    Pages i-xviii
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  2. Introduction

    1. Front Matter

      Pages 1-1
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    2. Modeling Dynamic Systems

      • Matthias Ruth, Bruce Hannon
      Pages 3-29

    3. Disaggregation of Stocks

      • Matthias Ruth, Bruce Hannon
      Pages 30-33

  3. Methods for Dynamic Modeling

    1. Front Matter

      Pages 35-35
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    2. System Boundaries in Space and Time

      • Matthias Ruth, Bruce Hannon
      Pages 37-55

    3. Scheduling Flows

      • Matthias Ruth, Bruce Hannon
      Pages 56-75

    4. Positive Feedback in the Economy

      • Matthias Ruth, Bruce Hannon
      Pages 76-81

    5. Derivatives and Lags

      • Matthias Ruth, Bruce Hannon
      Pages 82-90

  4. Microeconomic Models of Firms

    1. Front Matter

      Pages 91-91
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    2. Introduction to Modeling Economic Processes

      • Matthias Ruth, Bruce Hannon
      Pages 93-94

    3. Substitution of Inputs in Production

      • Matthias Ruth, Bruce Hannon
      Pages 95-101

    4. Time Value

      • Matthias Ruth, Bruce Hannon
      Pages 102-111

    5. Opportunity Cost

      • Matthias Ruth, Bruce Hannon
      Pages 112-119

    6. The Profit-Maximizing Competitive Firm

      • Matthias Ruth, Bruce Hannon
      Pages 120-126

    7. The Profit-Maximizing Monopoly

      • Matthias Ruth, Bruce Hannon
      Pages 127-140

    8. Monopolistic Collusion

      • Matthias Ruth, Bruce Hannon
      Pages 141-146

    9. Quasi-Competitive Equilibrium

      • Matthias Ruth, Bruce Hannon
      Pages 147-153

    10. Modeling Economic Games

      • Matthias Ruth, Bruce Hannon
      Pages 154-168

  5. Modeling Optimal Use of Nonrenewable Resources

    1. Front Matter

      Pages 169-169
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Keywords

About this book

The frontiers of physical science and technology commanded attention dur­ ing the last two centuries. In the next century lies the frontier of better un­ derstanding of the behavior of social and economic systems. Ruth and Hannon join many other pioneers exploring this new frontier. By building on the profession of system dynamics, Ruth and Hannon con­ tribute to movement away from purely mental models, which necessarily lack adequate precision, toward more insightful and disciplined computer simulation models. The STELLA software used in this book is one of several computer applications created to implement the concepts of system dynam­ ics, a discipline that has been developed over the last 40 years and now ex­ tends into many fields of activity. System dynamics is beginning, even in kindergarten through 12th grade education, to provide a rigorous founda­ tion for dealing with dynamic change in mathematics, physics, social stud­ ies, environment, history, and even literature. Education at every level will be changing from teaching isolated facts to allowing students to explore those systems within which facts, policies, and individual relationships are embedded to develop their ability to think in terms of dynamic systems. This book includes elementary instruction in system dynamics modeling and in the STELLA software. It covers a wide range of material from simple building blocks of systems to models and mathematics of considerable complexity. The material opens many avenues for further exploration, re­ finement, and simplification.

Authors and Affiliations

  • Center for Energy and Environmental Studies and the Department of Geography, Boston University, Boston, USA

    Matthias Ruth

  • Department of Geography, University of Illinois, Urbana, USA

    Bruce Hannon

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