MME0005 | Economics Dynamics |
Teaching Staff in Charge |
Asist. ILEA Veronica Ana, vdarzumath.ubbcluj.ro |
Aims |
The main goal of the course is to provide students with some basic concepts and tools from the theory of discrete and continuous dynamical systems, to develop the capacity to analyse and to synthesize the dynamic behaviour of the models generated by some problems from finance and from economy. |
Content |
1. Continuous Dynamical Systems (The concept of dynamical system, Examples: dynamical systems generated topological isomorphisms, dynamical systems generated by differential equations);
a) dynamical systems generated by differential equations: basic concepts and tools; b) fixed points, periodic points, attractors, limit sets in R and in the plane; c) stability for equilibrium solutions (sufficient conditions for asymptotic stability), trajectories, phase portrait, in R and in the plane; 2. Discrete Dynamical Systems (classification) a) discrete dynamical systems of firest order; b) discrete dynamical systems of second order; c) stability for discrete dynamical systems, the linear and the nonlinear case; 3. Numerical Methods for dynamical systems 4. Economic Dynamics a) supply and demand dynamics b) Keynesian Dynamics c) IS-LM dynamics d) the dynamics of inflation and unemployment |
References |
1. R. Shone, An Introduction to Economics Dynamics, Cambridge University Press, 2001.
2. I.A. Rus, Ecuatii diferentiale, ecuatii integrale si sisteme dinamice, Transilvania Press, Cluj-Napoca, 1996. 3. S. Elaydi: An Introduction to Difference Equations, Sprimger-Verlag, 2003. 4. B. Hasselblatt, A. Katok: A First Course in Dynamics, Cambridge Univ. Press, 2003. 5. W.A. Brock, A.G. Malliaris, Differential Equations, Stability and Chaos in Dynamic Economics, North-Holland,Amsterdam, 1989. 6. R. Shone: Economic Dynamics, Cambridge University Press, 2004. 7. L. Perko: Differential Equations and Dynamical Systems, Springer Verlag, 1996. |
Assessment |
The final mark is composed by:
60% two writtent test during the semester; 30% one written report at the end of semester; 10% home works. |
Links: | Syllabus for all subjects Romanian version for this subject Rtf format for this subject |