Dynamic programming and mathematical economics.

"Prepared for United States Air Force Project Rand."

Thermoeconomic functional analysis applied in cogeneration systems associated to cellulose plants

Thermoeconomic Functional Analysis is a method developed for the analysis and optimal design of improvement of thermal systems (Frangopoulos, 1984). The purpose of this work is to discuss the cogeneration system optimization using a condensing steam turbine with two extractions. This cogeneration system is a rational alternative in pulp and paper plants in regard to the Brazilian conditions. The objective of this optimization consists of minimizing the global cost of the system acquisition and operation, based on the parametrization of actual data from a cellulose plant with a daily production of 1000 tons. Among the several possible decision variables, the pressure and temperature of live steam were selected. These variables significantly affect the energy performance of the cogeneration system. The conditions which determine a lower cost for the system are presented in conclusion.

Economic design of a Vp X̄ chart

We develop an economic model for X̄ control charts having all design parameters varying in an adaptive way, that is, in real time considering current sample information. In the proposed model, each of the design parameters can assume two values as a function of the most recent process information. The cost function is derived and it provides a device for optimal selection of the design parameters. Through a numerical example one can foresee the savings that the developed model possibly provides. © 2001 Elsevier Science B.V. All rights reserved.

The analysis of economic time series.

"Originally published as Monograph no.6 of the Cowles Commission for Research in Economics."

Mīrovoĭ stroĭ truda /

Mode of access: Internet.

Les applications mathématiques à l'économie politique.

Mode of access: Internet.

The theory of econometrics,

Mode of access: Internet.

An introduction to econometrics /

Includes bibliographical references and index.

Proceedings of the symposium in linear programming.

Sponsored by Office of Scientific Research of the Air Research and Development Command and held jointly by National Bureau of Standards and the Directorate of Management Analysis, DCS/Comptroller, USAF.

Teaching the economic way of thinking : a new approach to teaching introductory economics in a business degree

In teaching introductory economics there has been a tendency to put a lot of emphasis on imparting abstract models and technical skills to students (Stilwell, 2005; Voss, Blais, Greens, & Ahwesh, 1986). This model building approach has the merit of preparing the grounding for students 10 pursue further studies in economics. However, in a business degree with only a small proportion of students majoring in economics, such an approach tend to alienate the majority of students transiting from high school in to university. Surveys in Europe and Australia found that students complained about the lack of relevance of economics courses to the real world and the over-reliance of abstract mathematical modelling (Kirman, 2001; Lewis and Norris, 1997; Siegfried & Round, 2000). BSB112 Economics 1 is one of the eight faculty core units in the Faculty of Business at QUT, with over 1000 students in each semester. In semester I 2008, a new approach to teaching this unit was designed aiming to achieve three inter-related objectives: (1) to provide business students with a first insight into economic thinking and language, (2) to integrate economic analysis with current Australian social, environmental and political issues, and (3) to cater for students with a wide range of academic needs. Strategies used to achieve these objectives included writing up a new text which departs from traditional economics textbooks in important ways, integrating students' cultures in teaching and learning activities, and devising a new assessment format to encourage development of research skills and applications rather than reproduction of factual knowledge. This paper will document the strategies used in this teaching innovation, present quantitative and qualitative evidence to evaluate this new approach and suggest ways of further improvement.

Introductory Chapter to The Economics of Nonprofit Enterprises

Nonprofit organizations present the analyst with a slew of puzzles. To an economist conditioned to think in terms of objectives and constraints, even the mathematical definition of the beast is a problem. What is a nonprofit organization? How does this definition shape the elaboration of objectives and constraints?

Economics of tourism & growth for small island countries

We theoretically analyze the impact of changes in foreign income from tourism source countries on the growth of tourism dependent small island economies. Using a general theoretical construct, we attempt to answer the question of how price elasticity of demand, income elasticity of tourist and the degree of competition in the service sector influence the economic development of small economies. One of the main results is that politicians may consider applying policies which lead to a competitive environment in the service sector to maximize growth and the consequent labor income share.

Why economics should be a modest and reasonable science

Unlike the methodological sciences such as mathematics and decision theory, which use the hypothetical-deductive method and may be fully expressed in complex mathematical models because their only truth criterion is logical consistency, the substantive sciences have as their truth criterion the correspondence to reality, adopt an empirical-deductive method, and are supposed to generalize from and often unreliable regularities and tendencies. Given this assumption, it is very difficult for economists to predict economic behavior, particularly major financial crises.

The Devil’s Calculus: Mathematical Models of Civil War

In spite of the movement to turn political science into a real science, various mathematical methods that are now the staples of physics, biology, and even economics are thoroughly uncommon in political science, especially the study of civil war. This study seeks to apply such methods - specifically, ordinary differential equations (ODEs) - to model civil war based on what one might dub the capabilities school of thought, which roughly states that civil wars end only when one side’s ability to make war falls far enough to make peace truly attractive. I construct several different ODE-based models and then test them all to see which best predicts the instantaneous capabilities of both sides of the Sri Lankan civil war in the period from 1990 to 1994 given parameters and initial conditions. The model that the tests declare most accurate gives very accurate predictions of state military capabilities and reasonable short term predictions of cumulative deaths. Analysis of the model reveals the scale of the importance of rebel finances to the sustainability of insurgency, most notably that the number of troops required to put down the Tamil Tigers is reduced by nearly a full order of magnitude when Tiger foreign funding is stopped. The study thus demonstrates that accurate foresight may come of relatively simple dynamical models, and implies the great potential of advanced and currently unconventional non-statistical mathematical methods in political science.