Foundations of Dynamic Economic Analysis presents a modern and thorough exposition of the fundamental mathematical formalism used to study optimal control theory, i.e., continuous time dynamic economic processes, and to interpret dynamic economic behavior. The style of presentation, with its continual emphasis on the economic interpretation of mathematics and models, distinguishes it from several other excellent texts on the subject. This approach is aided dramatically by introducing the dynamic envelope theorem and the method of comparative dynamics early in the exposition. Accordingly, motivated and economically revealing proofs of the transversality conditions come about by use of the dynamic envelope theorem. Furthermore, such sequencing of the material naturally leads to the development of the primal-dual method of comparative dynamics and dynamic duality theory, two modern approaches used to tease out the empirical content of optimal control models. The stylistic approach ultimately draws attention to the empirical richness of optimal control theory, a feature missing in virtually all other textbooks of this type.

Recent statistical techniques, including nonlinear programming, have been added to a basic survey of equilibrium systems, comparative statistics, consumer behavior theory, and cost and production theory.

This book gathers a collection of multidisciplinary essays by Jess Huerta de Soto, examining the dynamic processes of social cooperation which characterize the market, with particular emphasis on the role of both entrepreneurship and institutions.

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.

DYNAMIC ECONOMICS with increasing returns is extended to cope with economic growth, the business cycles and the irregular swings in the long-term development as different aspects of the same dynamical system, the economic system "as a whole". HUMAN CAPITAL emerges as the seminal concept: economic growth is in this dynamics causally reduced to the growth of human capital and thus to the growth of exact scientific knowledge. An analysis of this knowledge shows that quality education in hard sciences must be a prime target of future economic policies. A CAUSAL STRUCTURE, new in economics, underlies the extended dynamics. To enable students to study and to improve it, a detailled introduction to nonlinear causality is given, emphasizing the points relevant to this causal structure. NATIONAL ACCOUNTING and input-output dynamics are suggested to be extended to include also the production prices and production of human capital and of human time, by using a method of calculation indicated in detail in the book.

This work is concerned with the ways in which the talk of the 1930s evolved into technical analysis of some mathematical structures. It describes the context for the history of that change and shows how the history of modern economics can be seen as a confluence of several disparate traditions.