Todorova, Tamara (2013): An Easy Way to Teach Firstorder Linear Differential and Difference Equations with a Constant Term and a Constant Coefficient.

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Abstract
We present a simple method of solving firstorder linear differential and difference equations with a constant term and a constant coefficient. When solving such equations standard books in mathematical economics resort to a particular integral and a complementary function without further explaining those to beginning undergraduate students. We use the derivative and the difference, respectively, which give rise to a number of parental functions whose time path is studied by economic dynamics. A derived function is “shared” by multiple parental functions, but a number of parental functions give rise to one derived function. The method is smooth and easy to understand. Instead of spending time on complicated theoretical math techniques, the professor teaching quantitative methods could emphasize substantive economic models applying such simple equations.
Item Type:  MPRA Paper 

Original Title:  An Easy Way to Teach Firstorder Linear Differential and Difference Equations with a Constant Term and a Constant Coefficient 
English Title:  An Easy Way to Teach Firstorder Linear Differential and Difference Equations with a Constant Term and a Constant Coefficient 
Language:  English 
Keywords:  simple differential equations, simple difference equations, particular integral, complementary function, phase lines, Solow growth model 
Subjects:  A  General Economics and Teaching > A2  Economic Education and Teaching of Economics > A22  Undergraduate C  Mathematical and Quantitative Methods > C6  Mathematical Methods ; Programming Models ; Mathematical and Simulation Modeling > C61  Optimization Techniques ; Programming Models ; Dynamic Analysis C  Mathematical and Quantitative Methods > C6  Mathematical Methods ; Programming Models ; Mathematical and Simulation Modeling > C63  Computational Techniques ; Simulation Modeling 
Item ID:  48187 
Depositing User:  Tamara Todorova 
Date Deposited:  10 Jul 2013 07:42 
Last Modified:  26 Sep 2019 20:39 
References:  1. Chiang, Alpha C., “Fundamental Methods of Mathematical Economics,” McGrawHill Inc., 3rd edition, 1984 2. de la Fuente, Angel, “Mathematical Methods and Models for Economists,” Cambridge University Press, 2000 3. Dowling, Edward T., "Introduction to Mathematical Economics," in Schaum's Outline Series, 2nd edition, McGraw Hill, 1992 4. Intriligator, Michael D., “Mathematical Optimization and Economic Theory,” Society for Industrial and Applied Mathematics, Philadelphia, 2002, republication from PrenticeHall, Englewood Cliffs, New Jersey, 1971 5. Pemberton, Malcolm and Nicholas Rau, "Mathematics for Economists," Manchester University Press, 2001 6. Rainville, Earl David, Phillip E. Bedient and Richard E. Bedient, “Elementary Differential Equations,” Prentice Hall, Upper Saddle River, NJ 07458, 8th edition, 1996 7. Silberberg, Eugene and Wing Suen, “The Structure of Economics: A Mathematical Analysis,” McGrawHill/Irwin, 2000 8. Simon, Carl and Lawrence Blume, “Mathematics for Economists,” W. W. Norton and Company, 1994 9. Todorova, Tamara, “Problems Book to Accompany Mathematics for Economists,” WileyBlackwell, Hoboken, New Jersey, 2010 
URI:  https://mpra.ub.unimuenchen.de/id/eprint/48187 