Focusing on deterministic models in discrete time, this concise yet rigorous textbook provides a clear and systematic introduction to the theory and application of dynamic economic models. It guides students through the most popular model structures and solution concepts, from the simplest dynamic economic models through to complex problems of optimal policy design in dynamic general equilibrium frameworks. Chapters feature theorems and practical hints, and seventy-five worked examples highlight the various methods and results that can be applied in dynamic economic models. Notation and formulation is uniform throughout, so students can easily discern the similarities and differences between various model classes. Chapters include more than sixty exercises for students to self-test their analytical skills, and password-protected solutions are available for instructors on the companion website. Assuming no prior knowledge of dynamic economic analysis or dynamic optimization, this textbook is ideal for advanced students in economics.Read more
- Analysis is demonstrated through 75 worked examples that offer step-by-step solutions to the models
- A further 64 exercises allow students to self-assess their understanding, with full worked solutions (password-protected) available online for instructors
- Focuses purely on deterministic models in discrete time and avoids the more complicated stochastic and continuous-time models that students find confusing
Reviews & endorsements
'This book offers a comprehensive vision of economic dynamics suitable for graduate students and professionals alike. Gerhard Sorger is a leading researcher with a flair for presenting mathematically challenging theories carefully and rigorously. His text emphasizes the interplay between formal theory and applications with detailed developments of a catalogue of economic models and examples drawn from macroeconomics, growth theory and game theory. There is no other single book readily accessible in the economics literature covering the same wide range of deterministic dynamics and optimization theories with detailed illustrations of those theories in action. It is accessible to students engaged in a self-study program for students engaging with dynamical systems for the first time. Better yet, it offers the topics and treatments for a course in dynamics.' Robert A. Becker, Indiana University, BloomingtonSee more reviews
'This is a beautifully written book, providing a completely self-contained introduction to dynamic economic methods and models for graduate students in economics. The masterly exposition strikes a perfect balance between a user-friendly approach and a completely rigorous presentation of the subject matter. The style of writing is marked by exceptional clarity, very much in keeping with the high standards set by the author in his research contributions. The book is neatly divided into two parts, the first providing a comprehensive account of the theory of dynamical systems, and the second the theory and applications of dynamic optimization in settings with single and multiple decision makers. The chapters on Autonomous Difference Equations and Optimization Techniques are real gems, and should form the core material in any course on dynamic economic analysis.' Tapan Mitra, Goldwin Smith Professor of Economics, Cornell University
'Up to now, there are very few books available at the graduate level that introduce the necessary mathematical techniques to study macroeconomics from the viewpoint of nonlinear dynamics. Gerhard Sorger is one of the few theorists who have made profound contributions to the subject. His book beautifully introduces the basic results and synthesizes the latest developments in the discrete time nonlinear growth models. This book is ideally suited as a textbook for graduate courses in macroeconomics and mathematical economics. Gerhard Sorger should be congratulated on his efforts to educate young researchers. I highly recommend this book.' Kazuo Nishimura, RIEB, Kobe University
Review was not posted due to profanity×
- Date Published: February 2015
- format: Paperback
- isbn: 9781107443792
- length: 304 pages
- dimensions: 244 x 188 x 15 mm
- weight: 0.64kg
- contains: 30 b/w illus.
- availability: Available
Table of Contents
Part I. Difference Equations:
1. Basic concepts
2. Linear difference equations
3. Autonomous difference equations
4. One-dimensional maps
Part II. Dynamic Optimization:
5. Optimization techniques
6. Dynamic inconsistency and commitment
7. Dynamic games
8. Dynamic competitive equilibrium
Welcome to the resources site
Here you will find free-of-charge online materials to accompany this book. The range of materials we provide across our academic and higher education titles are an integral part of the book package whether you are a student, instructor, researcher or professional.
Find resources associated with this titleYour search for '' returned .
Type Name Unlocked * Format Size
*This title has one or more locked files and access is given only to lecturers adopting the textbook for their class. We need to enforce this strictly so that solutions are not made available to students. To gain access to locked resources you either need first to sign in or register for an account.
These resources are provided free of charge by Cambridge University Press with permission of the author of the corresponding work, but are subject to copyright. You are permitted to view, print and download these resources for your own personal use only, provided any copyright lines on the resources are not removed or altered in any way. Any other use, including but not limited to distribution of the resources in modified form, or via electronic or other media, is strictly prohibited unless you have permission from the author of the corresponding work and provided you give appropriate acknowledgement of the source.
If you are having problems accessing these resources please email firstname.lastname@example.org
Sorry, this resource is locked
Please register or sign in to request access. If you are having problems accessing these resources please email email@example.comRegister Sign in
You are now leaving the Cambridge University Press website. Your eBook purchase and download will be completed by our partner www.ebooks.com. Please see the permission section of the www.ebooks.com catalogue page for details of the print & copy limits on our eBooks.Continue ×