Modeling Dynamic Economic Systems

2. Auflage 2012
ISBN: 978-1-4614-2208-2
Verlag: Springer

Buch, Englisch, 326 Seiten, HC gerader Rücken kaschiert, Format (B × H): 160 mm x 241 mm, Gewicht: 682 g

Reihe: Modeling Dynamic Systems

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.

Zielgruppe

Graduate

Autoren/Hrsg.

Hannon, Bruce

Ruth, Matthias

Fachgebiete

• Wirtschaftswissenschaften Volkswirtschaftslehre Wirtschaftssysteme, Wirtschaftsstrukturen

Inhaltsverzeichnis

Foreword.- Preface.- Notation.- Part I: Introduction.- Modeling Dynamic Systems.- Disaggregation of Stocks.- Part II: Methods for Dynamic Modeling.- System Boundaries in Space and Time.- Scheduling Flows.- Positive Feedback in the Economy.- Derivatives and Lags.- Part III: Microeconomic Models of Firms.- Introduction to Modeling Economic Processes.- Substitution of Inputs in Production.- Time Value.- Opportunity Cost.- The Profit-Maximizing Competitive Firm.- The Profit-Maximizing Monopoly.- Monopolistic Collusion.- Quasi-Competitive Equilibrium.- Modeling Economic Games.- Part IV: Modeling Optimal Use of Nonrenewable Resources.- Competitive Scarcity.- Competitive Scarcity with Substitution.- Competitive Scarcity with Cost Dependent on Production Rate and Resource Size.- Competitive Scarcity with Technical Change.- Competitive Scarcity with Exploration.- Monopoly Scarcity.- Monopoly Scarcity with Variable Interest Rate.- Monopoly Scarcity with Cost Dependent on Production Rate and Resource Size.- Part V: Modeling Optimal Use of Renewable Resources.- Optimal Timber Harvest.- Managing Open Access Resources.- Optimal Harvest from Fisheries.- Spatial Fishery Model.- Part VI: Chaos in Economic Models.- Preference Cycles and Chaos.- Nonmonotonic Demand and Supply Curves.- Price Expectation and Production Lags.- Chaos in Macroeconomic Models.- Part VII: Conclusion.- Building a Modeling Community.- References.- Index.

Über Autor(innen)

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.