Economic Dynamics: Phase Diagrams and Their Economic Application

Ronald Shone0521017033, 9780521017039

This is the substantially revised and restructured second edition of Ron Shone’s successful undergraduate and graduate textbook Economic Dynamics.The book provides detailed coverage of dynamics and phase diagrams including: quantitative and qualitative dynamic systems, continuous and discrete dynamics, linear and nonlinear systems and single equation and systems of equations. It illustrates dynamic systems using Mathematical Maple and spreadsheets. It provides a thorough introduction to phase diagrams and their economic application and explains the nature of saddle path solutions.The second edition contains a new chapter on oligopoly and an extended treatment of stability of discrete dynamic systems and the solving of first-order difference equations. Detailed routines on the use of Mathematica and Maple are now contained in the body of the text, which now also includes advice on the use of Excel and additional examples and exercises throughout. The supporting website contains a solutions manual and learning tools.