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OPIM3000_11 - Fall 2009 Instructors Jintae Lee and Jingjing...

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Fall 2009 Instructors: Jintae Lee and Jingjing Li
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Review: what is stocks and flows? Graphical differentiation Graphical integration Challenge exercise   
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Stocks are accumulations of Inflow less outflow
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Identify the units of measures Stocks are those variables with capacity or level , they represent the state of systems . Stocks change only through their flows. (See 6.2.6  Fig.6-8) Unit difference: Stocks are usually a quantity, such as the  people employed. Flows are measured in the same units (with  stock)  per time period
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0 1 2 3 4 5 0 1 2 3 4 Let’s review the concepts of differentiation  and integration by considering the following  function:
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Derivative –  Slope  of the line  tangent  to the  function  at a given point . For example, the  derivative of stock is net flow. 0
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