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Modeling Dynamic Economic Systems

  • Matthias Ruth
  • Bruce Hannon

Part of the Modeling Dynamic Systems book series (MDS)

Table of contents

  1. Front Matter
    Pages i-xviii
  2. Introduction

    1. Front Matter
      Pages 1-1
    2. Matthias Ruth, Bruce Hannon
      Pages 3-29
    3. Matthias Ruth, Bruce Hannon
      Pages 30-33
  3. Methods for Dynamic Modeling

    1. Front Matter
      Pages 35-35
    2. Matthias Ruth, Bruce Hannon
      Pages 37-55
    3. Matthias Ruth, Bruce Hannon
      Pages 56-75
    4. Matthias Ruth, Bruce Hannon
      Pages 76-81
    5. Matthias Ruth, Bruce Hannon
      Pages 82-90
  4. Microeconomic Models of Firms

    1. Front Matter
      Pages 91-91
    2. Matthias Ruth, Bruce Hannon
      Pages 93-94
    3. Matthias Ruth, Bruce Hannon
      Pages 95-101
    4. Matthias Ruth, Bruce Hannon
      Pages 102-111
    5. Matthias Ruth, Bruce Hannon
      Pages 112-119
    6. Matthias Ruth, Bruce Hannon
      Pages 120-126
    7. Matthias Ruth, Bruce Hannon
      Pages 127-140
    8. Matthias Ruth, Bruce Hannon
      Pages 141-146
    9. Matthias Ruth, Bruce Hannon
      Pages 147-153
    10. Matthias Ruth, Bruce Hannon
      Pages 154-168
  5. Modeling Optimal Use of Nonrenewable Resources

    1. Front Matter
      Pages 169-169
    2. Matthias Ruth, Bruce Hannon
      Pages 171-182
    3. Matthias Ruth, Bruce Hannon
      Pages 183-193
    4. Matthias Ruth, Bruce Hannon
      Pages 198-202
    5. Matthias Ruth, Bruce Hannon
      Pages 203-208
    6. Matthias Ruth, Bruce Hannon
      Pages 209-214
    7. Matthias Ruth, Bruce Hannon
      Pages 215-219
  6. Modeling Optimal Use of Renewable Resources

    1. Front Matter
      Pages 225-225
    2. Matthias Ruth, Bruce Hannon
      Pages 227-232
    3. Matthias Ruth, Bruce Hannon
      Pages 233-245
    4. Matthias Ruth, Bruce Hannon
      Pages 246-254
    5. Matthias Ruth, Bruce Hannon
      Pages 255-265
    6. Matthias Ruth, Bruce Hannon
      Pages 266-282
  7. Chaos in Economic Models

    1. Front Matter
      Pages 283-283
    2. Matthias Ruth, Bruce Hannon
      Pages 285-291
    3. Matthias Ruth, Bruce Hannon
      Pages 292-297
    4. Matthias Ruth, Bruce Hannon
      Pages 298-303
    5. Matthias Ruth, Bruce Hannon
      Pages 304-307
  8. Conclusions

    1. Front Matter
      Pages 309-309
    2. Matthias Ruth, Bruce Hannon
      Pages 311-312
  9. Back Matter
    Pages 313-341

About this book

Introduction

The frontiers of physical science and technology commanded attention dur­ ing the last two centuries. In the next century lies the frontier of better un­ derstanding of the behavior of social and economic systems. Ruth and Hannon join many other pioneers exploring this new frontier. By building on the profession of system dynamics, Ruth and Hannon con­ tribute to movement away from purely mental models, which necessarily lack adequate precision, toward more insightful and disciplined computer simulation models. The STELLA software used in this book is one of several computer applications created to implement the concepts of system dynam­ ics, a discipline that has been developed over the last 40 years and now ex­ tends into many fields of activity. System dynamics is beginning, even in kindergarten through 12th grade education, to provide a rigorous founda­ tion for dealing with dynamic change in mathematics, physics, social stud­ ies, environment, history, and even literature. Education at every level will be changing from teaching isolated facts to allowing students to explore those systems within which facts, policies, and individual relationships are embedded to develop their ability to think in terms of dynamic systems. This book includes elementary instruction in system dynamics modeling and in the STELLA software. It covers a wide range of material from simple building blocks of systems to models and mathematics of considerable complexity. The material opens many avenues for further exploration, re­ finement, and simplification.

Keywords

Access chaos linear optimization model modeling production

Authors and affiliations

  • Matthias Ruth
    • 1
  • Bruce Hannon
    • 2
  1. 1.Center for Energy and Environmental Studies and the Department of GeographyBoston UniversityBostonUSA
  2. 2.Department of GeographyUniversity of IllinoisUrbanaUSA

Bibliographic information

Industry Sectors
Finance, Business & Banking
Energy, Utilities & Environment
Oil, Gas & Geosciences