xivPreface to the first editionpublished articles, involved setting up models in general form and carrying out verytedious algebraic manipulations. This is quite understandable. But such algebraicmanipulation does not give students the same insight it may provide the researchacademic. A compromise is to set out models with specific numerical coefficients.This has at least four advantages.It allowed the models to besolved explicitly.This means that students canget to grips with the models themselves fairly quickly and easily.Generalisation can always be achieved by replacing the numerical coef-ficients byunspecified parameters.Or alternatively, the models can besolved for different values, and students can be alerted to the fact thata model’s solution is quite dependent on the value (sign) of a particularparameter.The dynamic nature of the models can more readily beillustrated. Ac-cordingly concentration can be centred on the economics and not on themathematics.
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University of Cambridge, mathematical model, tedious algebraic manipulations