Ebook: Modeling Dynamic Economic Systems
- Tags: Environmental Economics, Environmental Monitoring/Analysis, Economic Theory, Complexity, Models and Principles
- Series: Modeling Dynamic Systems
- Year: 2012
- Publisher: Springer-Verlag New York
- Edition: 2
- Language: English
- pdf
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.
Economists model the ways in which humans meet their needs using given endowments of resources and technologies. This book explores the dynamic processes in economic systems, concentrating on the extraction of resources that are required to meet economic needs.
Using the STELLA® software, Modeling Dynamic Economic Systems applies methods of computer modeling to a wide range of real-world economic phenomena, demonstrating how to make informed decisions about economic performance and environmental quality. Sections of the book cover: methods for dynamic modeling economics with special emphasis on the microeconomic models of firms, modeling optimal use of both nonrenewable and renewable resources, and chaos in economic models.
The book does not require a substantial background in mathematics or computer science and encourages all students and scholars to actively incorporate modeling into their education and research. A save-disabled version of STELLA and the computer models of this book are available at www.iseesystems.com/modelingeconomicsystems.
About the Authors
Matthias Ruth is Roy F. Weston Chair in Natural Economics at the University of Maryland, College Park.
Bruce Hannon is Jubilee Professor (Emeritus) of Liberal Arts and Sciences at the University of Illinois, Urbana-Champaign.
About the Series
The availability of powerful, intuitive software for developing and running computer models of real-world phenomena promises a revolution in studying, teaching and thinking about complex problems that range from the functioning of a cell to that of an ecosystem to that of a national economy. The books in the series Modeling Dynamic Systems promote the spread of “systems thinking” by integrating state-of-the-art modeling techniques with the theories and concepts of specific disciplines or interdisciplinary topics. The unifying theme of the series is the ease, power, and transparency of model building.Economists model the ways in which humans meet their needs using given endowments of resources and technologies. This book explores the dynamic processes in economic systems, concentrating on the extraction of resources that are required to meet economic needs.
Using the STELLA® software, Modeling Dynamic Economic Systems applies methods of computer modeling to a wide range of real-world economic phenomena, demonstrating how to make informed decisions about economic performance and environmental quality. Sections of the book cover: methods for dynamic modeling economics with special emphasis on the microeconomic models of firms, modeling optimal use of both nonrenewable and renewable resources, and chaos in economic models.
The book does not require a substantial background in mathematics or computer science and encourages all students and scholars to actively incorporate modeling into their education and research. A save-disabled version of STELLA and the computer models of this book are available at www.iseesystems.com/modelingeconomicsystems.
About the Authors
Matthias Ruth is Roy F. Weston Chair in Natural Economics at the University of Maryland, College Park.
Bruce Hannon is Jubilee Professor (Emeritus) of Liberal Arts and Sciences at the University of Illinois, Urbana-Champaign.
About the Series
The availability of powerful, intuitive software for developing and running computer models of real-world phenomena promises a revolution in studying, teaching and thinking about complex problems that range from the functioning of a cell to that of an ecosystem to that of a national economy. The books in the series Modeling Dynamic Systems promote the spread of “systems thinking” by integrating state-of-the-art modeling techniques with the theories and concepts of specific disciplines or interdisciplinary topics. The unifying theme of the series is the ease, power, and transparency of model building.Content:
Front Matter....Pages i-xvii
Front Matter....Pages 1-1
Introduction....Pages 3-27
Disaggregation of Stocks....Pages 29-32
Front Matter....Pages 33-33
System Boundaries in Space and Time....Pages 35-52
Scheduling Flows....Pages 53-70
Positive Feedback in the Economy....Pages 71-76
Derivatives and Lags....Pages 77-86
Front Matter....Pages 87-87
Introduction to Modeling Economic Processes....Pages 89-90
Substitution of Inputs in Production....Pages 91-97
Time Value....Pages 99-107
Opportunity Cost....Pages 109-116
The Profit-Maximizing Competitive Firm....Pages 117-122
The Profit-Maximizing Monopoly....Pages 123-136
Monopolistic Collusion....Pages 137-142
Quasi-Competitive Equilibrium....Pages 143-147
Modeling Economic Games....Pages 149-163
Front Matter....Pages 165-165
Competitive Scarcity....Pages 167-178
Competitive Scarcity with Substitution....Pages 179-189
Competitive Scarcity with Cost Dependent on Production Rate and Resource Size....Pages 191-195
Competitive Scarcity with Technical Change....Pages 197-202
Competitive Scarcity with Exploration....Pages 203-208
Front Matter....Pages 165-165
Monopoly Scarcity....Pages 209-215
Monopoly Scarcity with Variable Interest Rate....Pages 217-222
Monopoly Scarcity with Cost Dependent on Production Rate and Resource Size....Pages 223-226
Front Matter....Pages 227-227
Optimal Timber Harvest....Pages 229-235
Managing Open Access Resources....Pages 237-248
Optimal Catch from Fisheries....Pages 249-257
Predator–Prey Models of Fisheries....Pages 259-269
Spatial Fishery Model....Pages 271-287
Front Matter....Pages 289-289
Preference Cycles and Chaos....Pages 291-297
Nonmonotonic Demand and Supply Curves....Pages 299-304
Price Expectation and Production Lags....Pages 305-310
Chaos in Macroeconomic Models....Pages 311-315
Front Matter....Pages 317-317
Building a Modeling Community....Pages 319-320
Back Matter....Pages 321-326
Economists model the ways in which humans meet their needs using given endowments of resources and technologies. This book explores the dynamic processes in economic systems, concentrating on the extraction of resources that are required to meet economic needs.
Using the STELLA® software, Modeling Dynamic Economic Systems applies methods of computer modeling to a wide range of real-world economic phenomena, demonstrating how to make informed decisions about economic performance and environmental quality. Sections of the book cover: methods for dynamic modeling economics with special emphasis on the microeconomic models of firms, modeling optimal use of both nonrenewable and renewable resources, and chaos in economic models.
The book does not require a substantial background in mathematics or computer science and encourages all students and scholars to actively incorporate modeling into their education and research. A save-disabled version of STELLA and the computer models of this book are available at www.iseesystems.com/modelingeconomicsystems.
About the Authors
Matthias Ruth is Roy F. Weston Chair in Natural Economics at the University of Maryland, College Park.
Bruce Hannon is Jubilee Professor (Emeritus) of Liberal Arts and Sciences at the University of Illinois, Urbana-Champaign.
About the Series
The availability of powerful, intuitive software for developing and running computer models of real-world phenomena promises a revolution in studying, teaching and thinking about complex problems that range from the functioning of a cell to that of an ecosystem to that of a national economy. The books in the series Modeling Dynamic Systems promote the spread of “systems thinking” by integrating state-of-the-art modeling techniques with the theories and concepts of specific disciplines or interdisciplinary topics. The unifying theme of the series is the ease, power, and transparency of model building.Content:
Front Matter....Pages i-xvii
Front Matter....Pages 1-1
Introduction....Pages 3-27
Disaggregation of Stocks....Pages 29-32
Front Matter....Pages 33-33
System Boundaries in Space and Time....Pages 35-52
Scheduling Flows....Pages 53-70
Positive Feedback in the Economy....Pages 71-76
Derivatives and Lags....Pages 77-86
Front Matter....Pages 87-87
Introduction to Modeling Economic Processes....Pages 89-90
Substitution of Inputs in Production....Pages 91-97
Time Value....Pages 99-107
Opportunity Cost....Pages 109-116
The Profit-Maximizing Competitive Firm....Pages 117-122
The Profit-Maximizing Monopoly....Pages 123-136
Monopolistic Collusion....Pages 137-142
Quasi-Competitive Equilibrium....Pages 143-147
Modeling Economic Games....Pages 149-163
Front Matter....Pages 165-165
Competitive Scarcity....Pages 167-178
Competitive Scarcity with Substitution....Pages 179-189
Competitive Scarcity with Cost Dependent on Production Rate and Resource Size....Pages 191-195
Competitive Scarcity with Technical Change....Pages 197-202
Competitive Scarcity with Exploration....Pages 203-208
Front Matter....Pages 165-165
Monopoly Scarcity....Pages 209-215
Monopoly Scarcity with Variable Interest Rate....Pages 217-222
Monopoly Scarcity with Cost Dependent on Production Rate and Resource Size....Pages 223-226
Front Matter....Pages 227-227
Optimal Timber Harvest....Pages 229-235
Managing Open Access Resources....Pages 237-248
Optimal Catch from Fisheries....Pages 249-257
Predator–Prey Models of Fisheries....Pages 259-269
Spatial Fishery Model....Pages 271-287
Front Matter....Pages 289-289
Preference Cycles and Chaos....Pages 291-297
Nonmonotonic Demand and Supply Curves....Pages 299-304
Price Expectation and Production Lags....Pages 305-310
Chaos in Macroeconomic Models....Pages 311-315
Front Matter....Pages 317-317
Building a Modeling Community....Pages 319-320
Back Matter....Pages 321-326
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