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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-xvii
  2. Introduction

    1. Front Matter
      Pages 1-1
    2. Matthias Ruth, Bruce Hannon
      Pages 3-27
    3. Matthias Ruth, Bruce Hannon
      Pages 29-32
  3. Methods for Dynamic Modeling

    1. Front Matter
      Pages 33-33
    2. Matthias Ruth, Bruce Hannon
      Pages 35-52
    3. Matthias Ruth, Bruce Hannon
      Pages 53-70
    4. Matthias Ruth, Bruce Hannon
      Pages 71-76
    5. Matthias Ruth, Bruce Hannon
      Pages 77-86
  4. Microeconomic Models of Firms

    1. Front Matter
      Pages 87-87
    2. Matthias Ruth, Bruce Hannon
      Pages 89-90
    3. Matthias Ruth, Bruce Hannon
      Pages 91-97
    4. Matthias Ruth, Bruce Hannon
      Pages 99-107
    5. Matthias Ruth, Bruce Hannon
      Pages 109-116
    6. Matthias Ruth, Bruce Hannon
      Pages 117-122
    7. Matthias Ruth, Bruce Hannon
      Pages 123-136
    8. Matthias Ruth, Bruce Hannon
      Pages 137-142
    9. Matthias Ruth, Bruce Hannon
      Pages 143-147
    10. Matthias Ruth, Bruce Hannon
      Pages 149-163
  5. Modeling Optimal Use of Nonrenewable Resources

    1. Front Matter
      Pages 165-165
    2. Matthias Ruth, Bruce Hannon
      Pages 167-178
    3. Matthias Ruth, Bruce Hannon
      Pages 179-189
    4. Matthias Ruth, Bruce Hannon
      Pages 197-202
    5. Matthias Ruth, Bruce Hannon
      Pages 203-208
    6. Matthias Ruth, Bruce Hannon
      Pages 209-215
    7. Matthias Ruth, Bruce Hannon
      Pages 217-222
  6. Modeling Optimal Use of Renewable Resources

    1. Front Matter
      Pages 227-227
    2. Matthias Ruth, Bruce Hannon
      Pages 229-235
    3. Matthias Ruth, Bruce Hannon
      Pages 237-248
    4. Matthias Ruth, Bruce Hannon
      Pages 249-257
    5. Matthias Ruth, Bruce Hannon
      Pages 259-269
    6. Matthias Ruth, Bruce Hannon
      Pages 271-287
  7. Chaos in Economic Models

    1. Front Matter
      Pages 289-289
    2. Matthias Ruth, Bruce Hannon
      Pages 291-297
    3. Matthias Ruth, Bruce Hannon
      Pages 299-304
    4. Matthias Ruth, Bruce Hannon
      Pages 305-310
    5. Matthias Ruth, Bruce Hannon
      Pages 311-315
  8. Conclusion

    1. Front Matter
      Pages 317-317
    2. Matthias Ruth, Bruce Hannon
      Pages 319-320
  9. Back Matter
    Pages 321-326

About this book

Introduction

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.

Authors and affiliations

  • Matthias Ruth
    • 1
  • Bruce Hannon
    • 2
  1. 1.University of MarylandCollege ParkUSA
  2. 2.University of IllinoisUrbanaUSA

Bibliographic information

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