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E-raamat: Computational Economics: A concise introduction [Taylor & Francis e-raamat]

(University of Porto, Portugal), (University of Porto, Portugal)
  • Taylor & Francis e-raamat
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Computational Economics: A concise introduction is a comprehensive textbook designed to help students move from the traditional and comparative static analysis of economic models, to a modern and dynamic computational study. The ability to equate an economic problem, to formulate it into a mathematical model and to solve it computationally is becoming a crucial and distinctive competence for most economists.

This vital textbook is organized around static and dynamic models, covering both macro and microeconomic topics, exploring the numerical techniques required to solve those models.

A key aim of the book is to enable students to develop the ability to modify the models themselves so that, using the MATLAB/Octave codes provided on the book and on the website, students can demonstrate a complete understanding of computational methods.

This textbook is innovative, easy to read and highly focused, providing students of economics with the skills needed to understand the essentials of using numerical methods to solve economic problems. It also provides more technical readers with an easy way to cope with economics through modelling and simulation. Later in the book, more elaborate economic models and advanced numerical methods are introduced which will prove valuable to those in more advanced study.

This book is ideal for all students of economics, mathematics, computer science and engineering taking classes on Computational or Numerical Economics.

List of figures
xi
Preface xiii
Using the book xvi
Introduction xix
PART I Static economic models
1(76)
1 Supply and demand model
3(23)
Introduction
3(1)
Economic model in autarky
4(3)
First computer program
7(1)
First numerical results and simulations
8(3)
Economic model with international-trade policy
11(3)
Numerical solution: linear systems of equations
14(2)
Numerical results and simulation
16(8)
Highlights
24(1)
Problems and computer exercises
24(2)
2 IS--LM model in a closed economy
26(12)
Introduction
26(1)
Economic model
26(3)
Numerical solution: linear systems of equations
29(2)
Computational implementation
31(2)
Numerical results and simulation
33(4)
Highlights
37(1)
Problems and computer exercises
37(1)
3 IS--LM model in an open economy
38(11)
Introduction
38(1)
Economic model
38(3)
Numerical solution: linear systems of equations
41(3)
Computational implementation
44(2)
Numerical results and simulation
46(2)
Highlights
48(1)
Problems and computer exercises
48(1)
4 AD--AS model
49(15)
Introduction
49(1)
Economic model
49(3)
Numerical solution: nonlinear systems of equations
52(3)
Computational implementation
55(2)
Numerical results and simulation
57(4)
Highlights
61(1)
Problems and computer exercises
61(3)
5 Portfolio model
64(13)
Introduction
64(1)
Economic model
65(1)
Numerical solution
65(2)
Computational implementation
67(5)
Numerical results and simulation
72(1)
Highlights
73(1)
Problems and computer exercises
74(3)
PART II Dynamic economic models
77(98)
6 Supply and demand dynamics
79(14)
Introduction
79(1)
Cobweb model
79(3)
Market model with inventory
82(1)
Numerical solution: difference equations
83(2)
Computational implementation
85(3)
Numerical results and simulation
88(2)
Highlights
90(1)
Problems and computer exercises
91(2)
7 Duopoly model
93(10)
Introduction
93(1)
Cournot, Stackelberg and Bertrand models of duopoly markets
93(2)
Discrete dynamics Cournot duopoly game
95(1)
Numerical solution: systems of difference equations
96(3)
Computational implementation
99(1)
Numerical results and simulation
100(1)
Highlights
101(1)
Problems and computer exercises
102(1)
8 SP--DG model
103(10)
Introduction
103(1)
Economic model
103(3)
Numerical solution
106(1)
Alogrithm
106(1)
Computational implementation
106(4)
Numerical results and simulation
110(1)
Highlights
111(1)
Problems and computer exercises
111(2)
9 Solow model
113(16)
Introduction
113(1)
Economic model
113(6)
Numerical solution: initial value problems
119(2)
Computational implementation
121(1)
Numerical results and simulation
122(3)
Highlights
125(2)
Problems and computer exercises
127(2)
10 Skill-biased technological change model
129(14)
Introduction
129(1)
Economic model
130(4)
Numerical solution: initial value problems
134(4)
Computational implementation
138(1)
Numerical results and simulation
139(2)
Highlights
141(1)
Problems and computer exercises
142(1)
11 Technological-knowledge diffusion model
143(13)
Introduction
143(1)
Economic model
144(3)
Numerical solution: initial value problems
147(3)
Computational implementation
150(1)
Numerical results and simulation
151(3)
Highlights
154(1)
Problems and computer exercises
154(2)
12 Ramsey--Cass--Koopmans model
156(19)
Introduction
156(1)
Economic model
156(7)
Numerical solution: boundary value problems
163(3)
Computational implementation
166(2)
Numerical results and simulation
168(2)
Highlights
170(1)
Problems and computer exercises
170(3)
Afterword
173(2)
PART III Appendices
175(2)
Appendix A Projects
177(30)
Supply--demand model with trade: export taxes
177(1)
Product differentiation model
178(2)
Some variants on the Mundell--Fleming model
180(6)
Nonlinear supply--demand model
186(1)
Dynamic continuous duopoly game
186(3)
Dynamic IS--LM model
189(1)
Dynamic AD--AS model
190(1)
Extensions to the neoclassic growth model
191(6)
Effects of public intervention on wage inequality
197(2)
Migratory movements and directed technical change
199(1)
Skill-structure, high-tech sector and economic growth dynamics model
200(4)
Multiple equilibria in economic growth
204(3)
Appendix B Solutions
207(50)
Supply and demand
207(2)
IS--LM in a closed economy
209(2)
IS--LM in an open economy
211(3)
AD--AS
214(4)
Portfolio
218(4)
Supply and demand dynamics
222(6)
Duopoly
228(1)
SP--DG
229(5)
Solow
234(5)
Skill-biased technological change
239(5)
Technological-knowledge diffusion
244(5)
Ramsey--Cass--Koopmans
249(8)
Bibliography 257(4)
Index 261
Oscar Afonso, Paulo B. Vasconcelos