Differential Equations, Bifurcations and Chaos in Economics (Advances in Mathematics for Applied Sciences) by Wei-Bin Zhang | (PDF) Free Download

Description

Although the application of differential equations to economics is a vast and vibrant area, the subject has not been systematically studied; it is often treated as a subsidiary part of mathematical economics textbooks. This book aims to fill that void by providing a unique blend of the theory of differential equations and their exciting applications to dynamic economics. Containing not just a comprehensive introduction to the applications of the theory of linear (and linearized) differential equations to economic analysis, the book also studies nonlinear dynamical systems, which have only been widely applied to economic analysis in recent years. It provides comprehensive coverage of the most important concepts and theorems in the theory of differential equations in a way that can be understood by any reader who has a basic knowledge of calculus and linear algebra. In addition to traditional applications of the theory to economic dynamics, the book includes many recent developments in different fields of economics.

User’s Reviews

Editorial Reviews: Review a comprehensive introduction to most important concepts and theorems in differential equations theory — Zentralblatt MATH “Zentralblatt MATH”

Reviews from Amazon users which were colected at the time this book was published on the website:

⭐This book looks at how differential equations may be applied to a fascinating and broad array of economic and social science models. However, the preface of the book is at best optimistic (and at worst very misleading) when it claims that “It provides a comprehensive introduction to most important concepts and theorems in differential equations theory in a way that can be understood by anyone who has basic knowledge of calculus and linear algebra.” General solutions to particular classes of differential equations are provided as is, with no derivation or proof. Additionally, there seems to little proofing done of the text or numerical examples either (e.g multiple mistakes in the examples of solving plain [i.e. no economic context] linear first-order ODEs). I have chosen to buy and look online for additional materials to learn further techniques and principles of analyzing and solving differential equations, because I find the mistakes and rote learning of general solutions to equations is insufficient to properly learn how to apply the methods of analysis of differential equations to economics. I have chosen to keep the book because of the interesting models that are mentioned throughout the text, but the book acts more as jumping off point to find other more reliable and consistent material regarding these models.

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