Synopses & Reviews
This volume presents some of the most important mathematical tools for studying economic models. It contains basic topics concerning linear differential equations and linear discrete-time systems; a sketch of the general theory of nonlinear systems and the stability of equilibria; an introduction to numerical methods for differential equations, and some applications to the solution of nonlinear equations and static optimization. The second part of the book discusses stabilization problems, including optimal stabilization, linear-quadratic optimization and other problems of dynamic optimization, including a proof of the Maximum Principle for general optimal control problems. All these mathematical subjects are illustrated with detailed discussions of economic models.Audience: This text is recommended as auxiliary material for undergraduate and graduate level MBA students, while at the same time it can also be used as a reference by specialists.
Book News Annotation:
Rumanian mathematicians have expanded the lectures from their course
on mathematics for students of business administration, management,
and computer science into a core or supplemental text. The first part
is devoted to the study of free evolutions described by differential
equations or discrete-time systems, and is suitable for an advanced
undergraduate course. The second considers some control problems and
is better used for a graduate course. The initial discussion of
first- order equations, linear and affine, allow the description of
simple price models and economic growth models, and the deduction of
the form of some production functions. The discussion then progresses
to second-order linear equations with constant coefficients, and
develops the idea of stability with the models considered. Double
spaced.
Annotation c. Book News, Inc., Portland, OR (booknews.com)
Description:
Includes bibliographical references (p. 351-353) and index.
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