Application of differential equations in projecting growth trajectories

Ron W. Nielsen ()
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Ron W. Nielsen: Griffith University, Environmental Futures Research Institute, Gold Coast Campus, Qld, 4222, Australia.

Journal of Economics Bibliography, 2017, vol. 4, issue 3, 203-221

Abstract: Mathematical method based on a direct or indirect analysis of growth rates is described. It is shown how simple assumptions and a relatively easy analysis can be used to describe mathematically complicated trends and to predict growth. Only rudimentary knowledge of calculus is required. Projected trajectories based on such simple initial assumptions are easier to accept and to understand than alternative complicated projections based on more complicated assumptions and on more intricate computational procedures. Examples of the growth of population and of the growth of the Gross Domestic Product are used to illustrate the application of this method of forecasting.

Keywords: Forecasting; Differential equations; Analysis of growth rates; Growth trends. (search for similar items in EconPapers)
JEL-codes: C02 C20 C50 C53 C65 Y80 (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:ksp:journ6:v:4:y:2017:i:3:p:203-221

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