xiv
Preface to the first edition
published articles, involved setting up models in general form and carrying out very
tedious algebraic manipulations. This is quite understandable. But such algebraic
manipulation does not give students the same insight it may provide the research
academic. A compromise is to set out models with specific numerical coefficients.
This has at least four advantages.
It allowed the models to be
solved explicitly.
This means that students can
get to grips with the models themselves fairly quickly and easily.
Generalisation can always be achieved by replacing the numerical coef
ficients by
unspecified parameters.
Or alternatively, the models can be
solved for different values, and students can be alerted to the fact that
a model’s solution is quite dependent on the value (sign) of a particular
parameter.
The dynamic nature of the models can more readily be
illustrated
. Ac
cordingly concentration can be centred on the economics and not on the
mathematics.
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 Fall '11
 Dr.Gwartney
 Economics, University of Cambridge, mathematical model, tedious algebraic manipulations

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