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Modeling Dynamic Economic Systems

  • Textbook
  • © 2012

Overview

Authors:
  1. Matthias Ruth

    1. University of Maryland, College Park, USA

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    You can also search for this author in PubMed   Google Scholar

  2. Bruce Hannon

    1. University of Illinois, Urbana, USA

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    You can also search for this author in PubMed   Google Scholar

  • Models in this book were created using STELLA software
  • The authors have updated this book so that it is more accessible to students studying model development
  • This book models and analyzes the dynamics characteristic of economic processes and human-environment interactions
  • Includes supplementary material: sn.pub/extras

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

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Table of contents (33 chapters)

  1. Front Matter

    Pages i-xvii
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  2. Introduction

    1. Front Matter

      Pages 1-1
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    2. Introduction

      • Matthias Ruth, Bruce Hannon
      Pages 3-27

    3. Disaggregation of Stocks

      • Matthias Ruth, Bruce Hannon
      Pages 29-32

  3. Methods for Dynamic Modeling

    1. Front Matter

      Pages 33-33
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    2. System Boundaries in Space and Time

      • Matthias Ruth, Bruce Hannon
      Pages 35-52

    3. Scheduling Flows

      • Matthias Ruth, Bruce Hannon
      Pages 53-70

    4. Positive Feedback in the Economy

      • Matthias Ruth, Bruce Hannon
      Pages 71-76

    5. Derivatives and Lags

      • Matthias Ruth, Bruce Hannon
      Pages 77-86

  4. Microeconomic Models of Firms

    1. Front Matter

      Pages 87-87
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    2. Introduction to Modeling Economic Processes

      • Matthias Ruth, Bruce Hannon
      Pages 89-90

    3. Substitution of Inputs in Production

      • Matthias Ruth, Bruce Hannon
      Pages 91-97

    4. Time Value

      • Matthias Ruth, Bruce Hannon
      Pages 99-107

    5. Opportunity Cost

      • Matthias Ruth, Bruce Hannon
      Pages 109-116

    6. The Profit-Maximizing Competitive Firm

      • Matthias Ruth, Bruce Hannon
      Pages 117-122

    7. The Profit-Maximizing Monopoly

      • Matthias Ruth, Bruce Hannon
      Pages 123-136

    8. Monopolistic Collusion

      • Matthias Ruth, Bruce Hannon
      Pages 137-142

    9. Quasi-Competitive Equilibrium

      • Matthias Ruth, Bruce Hannon
      Pages 143-147

    10. Modeling Economic Games

      • Matthias Ruth, Bruce Hannon
      Pages 149-163

  5. Modeling Optimal Use of Nonrenewable Resources

    1. Front Matter

      Pages 165-165
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Keywords

About this book

This book explores the dynamic processes in economic systems, concentrating on the extraction and use of the natural resources required to meet economic needs. Sections cover methods for dynamic modeling in economics, microeconomic models of firms, modeling optimal use of both nonrenewable and renewable resources, and chaos in economic models. This book does not require a substantial background in mathematics or computer science.

Authors and Affiliations

  • University of Maryland, College Park, USA

    Matthias Ruth

  • University of Illinois, Urbana, USA

    Bruce Hannon

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