Description
This book is a unique blend of difference equations theory and its exciting applications to economics. It deals with not only theory of linear (and linearized) difference equations, but also nonlinear dynamical systems which have been widely applied to economic analysis in recent years. It studies most important concepts and theorems in difference equations theory in a way that can be understood by anyone who has basic knowledge of calculus and linear algebra. It contains well-known applications and many recent developments in different fields of economics. The book also simulates many models to illustrate paths of economic dynamics.- A unique book concentrated on theory of discrete dynamical systems and its traditional as well as advanced applications to economics- Mathematical definitions and theorems are introduced in a systematic and easily accessible way- Examples are from almost all fields of economics; technically proceeding from basic to advanced topics- Lively illustrations with numerous figures- Numerous simulation to see paths of economic dynamics- Comprehensive treatment of the subject with a comprehensive and easily accessible approach
Table of Contents
1. Difference equations in economics2. Scalar linear difference equations3. One-dimensional dynamical economic systems4. Time-dependent solutions of scalar systems5. Economic bifurcations and chaos6. Higher dimensional difference equations7. Higher dimensional economic dynamics8. Epilogue
