Discrete Dynamical Systems, Bifurcations and Chaos in Economics

This book is a unique blend of difference equations theory and its exciting applications to economics. It deals with not only theory of linear (and linearized) difference equations, but also nonlinear dynamical systems which have been widely applied to economic analysis in recent years. It studies most important concepts and theorems in difference equations theory in a way that can be understood by anyone who has basic knowledge of calculus and linear algebra. It contains well-known applications and many recent developments in different fields of economics. The book also simulates many models to illustrate paths of economic dynamics.

A unique book concentrated on theory of discrete dynamical systems and its traditional as well as advanced applications to economicsMathematical definitions and theorems are introduced in a systematic and easily accessible wayExamples are from almost all fields of economics; technically proceeding from basic to advanced topicsLively illustrations with numerous figuresNumerous simulation to see paths of economic dynamicsComprehensive treatment of the subject with a comprehensive and easily accessible approach

1. Difference equations in economics 2. Scalar linear difference equations 3. One-dimensional dynamical economic systems 4. Time-dependent solutions of scalar systems 5. Economic bifurcations and chaos 6. Higher dimensional difference equations 7. Higher dimensional economic dynamics 8. Epilogue