An introduction to differential equations in dynamic economic analysis : an honors thesis (HONRS 499)
At the undergraduate level most students only encounter economic analysis through static modeling;however, most economic situations are continuously changing over time. To get a clearer picture of the status of the economy, we must also incorporate dynamic analysis. The objective of this study is to introduce and explain the basic techniques of differential equations and to examine what they can teach us that static analysis cannot. In this work, I examine several common economic models using differential equations to learn more about the dynamics of these models.