Description This book serves not only as an introduction, but also as an advanced text and reference source in the field of deterministic optimal
control systems governed by ordinary differential equations. It also includes an introduction to the classical calculus of variations.
An important feature of the book is the inclusion of a large number of examples, in which the theory is applied to a wide variety of
economics problems. The presentation of simple models helps illuminate pertinent qualitative and analytic points, useful when confronted
with a more complex reality. These models cover: economic growth in both open and closed economies, exploitation of (non-) renewable
resources, pollution control, behaviour of firms, and differential games. A great emphasis on precision pervades the book, setting it
apart from the bulk of literature in this area. The rigorous techniques presented should help the reader avoid errors which often recur
in the application of control theory within economics.
