System Dynamics

Catalog description

This course takes a system dynamics approach to the study of economics and natural resources management. We will examine some of the example theories such as Solow-Swan model and endogenous growth theories as well as the tragedy of the commons, using system dynamics tools to uncover the feedback and explicitly examine its impact on the dynamic behavior of the system. Through these examples, we will learn how to develop, validate, and use system dynamics models for policy design and analysis.