Chapter 6 focuses on equations of motion. These are the equations in a dynamic problem that describe the evolution of the state variables. Both difference equations and differential equations are presented and discussed. Several examples are provided, including the cobweb model of market equilibrium and a simple model of a renewable natural resource.

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Equations of Motion

  • Gerald Shively

摘要

Chapter 6 focuses on equations of motion. These are the equations in a dynamic problem that describe the evolution of the state variables. Both difference equations and differential equations are presented and discussed. Several examples are provided, including the cobweb model of market equilibrium and a simple model of a renewable natural resource.