Wow! eBook
Economic Dynamics: Theory and Computation 2nd Edition
Author(s): John Stachurski (Author)
- Publisher: MIT Press
- Publication Date: 16 Aug. 2022
- Edition: 2nd
- Language: English
- Print length: 400 pages
- ISBN-10: 0262544776
- ISBN-13: 9780262544771
Book Description
This text provides an introduction to the modern theory of economic dynamics, with emphasis on mathematical and computational techniques for modeling dynamic systems. Written to be both rigorous and engaging, the book shows how sound understanding of the underlying theory leads to effective algorithms for solving real-world problems. The material makes extensive use of programming examples to illustrate ideas, bringing to life the abstract concepts in the text. Key topics include algorithms and scientific computing, simulation, Markov models, and dynamic programming. Part I introduces fundamentals and part II covers more advanced material. This second edition has been thoroughly updated, drawing on recent research in the field.
New for the second edition:
– “Programming-language agnostic” presentation using pseudocode.
– New chapter 1 covering conceptual issues concerning Markov chains such as ergodicity and stability.
– New focus in chapter 2 on algorithms and techniques for program design and high-performance computing.
– New focus on household problems rather than optimal growth in material on dynamic programming.
– Solutions to many exercises, code, and other resources available on a supplementary website.
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Review
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