This is the substantially revised and restructured second edition of Ron Shone's successful undergraduate and gradute textbook Economic Dynamics.
The book provides a detailed coverage of dynamics and phase diagrams including: quantitative and qualitative dynamic systems, continuous and discrete dynamics, linear and nonlinear systems and single equation and systems of equations. It illustrates dynamic systems using Mathematica
and provides many detailed routines in the body of the text and appendices. It provides a thorough introduction to phase diagrams and their economic application and explains the nature of saddle path solutions. There are over 120 exercises contained in the book with brief answers. The Cambridge University Press web site
provides a Solutions manual in Mathematica
notebooks to all exercises.
PART I: Dynamic modelling | Introduction | Continuous dynamic systems | Discrete dynamic systems | Systems of first-order differential equations | Discrete systems of equations | Optimal control theory | Chaos Theory
PART II: Applied economic dynamics | Demand and supply models | Dynamic theory of oligopoly | Closed economy dynamics | The dynamics of inflation and unemployment | Open economy dynamics: sticky price models | Open economy dynamics: flexible price models | Population models | The dynamics of fisheries
Calculus and Analysis
, Economics and Finance