ECO 3145 Lecture Notes - Lecture 9: Dependent And Independent Variables, Ordinary Differential Equation, Erogenous Zone
15 Jun 2014
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General solution method: qualitative analysis: phase diagrams, introduction the value of a variable expressed as a function of time, time path. An equation which specifies the instantaneous change in the value of a variable. At least one term of the equation is a derivative (or a differential) Example: solow growth model (definitions of variables and parameters in previous: solution. An expression for the time path of the dependent variable, { })t(b the time path(s) of the independent variable(s), i. e. time. A given value of the dependent variable, such as the initial value, x(0) Solution method: integration: backward solution rewrite (1) in the following form: trick: multiply both sides of the equation by e. Observe that the left-hand side of this equation is equivalent to. Make this substitution into the equation, yielding t . 0 integrate both sides of the equation from of t for which you want to know the solution t = to.
