Search results
Results from the WOW.Com Content Network
Mathematical economics is the application of mathematical methods to represent theories and analyze problems in economics.Often, these applied methods are beyond simple geometry, and may include differential and integral calculus, difference and differential equations, matrix algebra, mathematical programming, or other computational methods.
An example of using Newton–Raphson method to solve numerically the equation f(x) = 0. In mathematics, to solve an equation is to find its solutions, which are the values (numbers, functions, sets, etc.) that fulfill the condition stated by the equation, consisting generally of two expressions related by an equals sign.
GEMPACK (General Equilibrium Modelling PACKage) is a modeling system for CGE economic models, used at the Centre of Policy Studies (CoPS) in Melbourne, Australia, and sold to other CGE modellers. Some of the more well-known CGE models solved using GEMPACK [ 1 ] are the GTAP model of world trade, and the MONASH, MMRF, ORANI -G and TERM models ...
In mathematics, brackets of various typographical forms, such as parentheses ( ), square brackets [ ], braces { } and angle brackets , are frequently used in mathematical notation. Generally, such bracketing denotes some form of grouping: in evaluating an expression containing a bracketed sub-expression, the operators in the sub-expression take ...
A macroeconomic model is an analytical tool designed to describe the operation of the problems of economy of a country or a region. These models are usually designed to examine the comparative statics and dynamics of aggregate quantities such as the total amount of goods and services produced, total income earned, the level of employment of productive resources, and the level of prices.
Main page; Contents; Current events; Random article; About Wikipedia; Contact us
A parametric equation is an equation in which the solutions for the variables are expressed as functions of some other variables, called parameters appearing in the equations; A functional equation is an equation in which the unknowns are functions rather than simple quantities; Equations involving derivatives, integrals and finite differences:
An economic model is a theoretical construct representing economic processes by a set of variables and a set of logical and/or quantitative relationships between them. The economic model is a simplified, often mathematical, framework designed to illustrate complex processes.