Publisher's Synopsis
This is a treatment of the fundamental quantitative techniques required to build and test mathematical models of business management systems. It places emphasis on practicality and relevance, avoiding undue rigour in its coverage of functional analysis, differential and integral calculus, linear algebra and computational methods. With this novel approach the book breaks down the psychological barrier which daunts so many social science students on quantitative methods courses.;Each topic is introduced by means of simple, yet practical problems involving variables and parameters that can be easily interpreted, and always in tandem with purposeful results which can be deduced analytically. The basic concepts and techniques are subsequently developed demonstrating the route from problem to solution.;The modelling concept is embraced and applied throughout the book, clarified by means of many realistic examples. In addition, exercises are set in a descriptive format and require the reader not only to construct basic modes, but also to analyze their often unpredictable behaviour due to the inter-relational effects of system components. Another progressive feature is the inclusion of both continuous and discrete modelling techniques, accompanied by a discussion on the relative merits and drawbacks associated with each approach. A suite of straightforward BASIC programs is also included as an option to avoid excessive and repetitive manual computation of iterative procedures.;The final two chapters are devoted almost entirely to the practitioner illustrating the different methodologies used in modelling real world systems such as Systems Dynamics, Monte Carlo Methods, forecasting techniques, Input-Output analysis, density dependent processes, and also presents many useful models applicable in business management and economics such as inventory and production models, investment and tax models, marketing models and classical models of a national economy.
