In Chapter 5, we have dealt with linear dynamic systems, the nature of their equilibrium, and their analytical as well as qualitative solutions. In this chapter, we are discussing nonlinear systems. These are more important since the world is more nonlinear than linear in general, and also linear systems can be considered a local linearization of nonlinear systems about an equilibrium point. Nonlinear systems can be approximated by such linearization in some cases and not in some others. This will be discussed in the Linearization theory in the general context of solution spaces, together with their stability and qualitative solutions. A brief introduction to Limit Cycles will be presented. The discussion will be illustrated with some applications in Economics and Biology.
KeywordsManifold Income Assure Expense Librium
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