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.
Contents
Part I
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
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
14. Population models
15. The dynamics of fisheries
708 pages