Introduction to Dynamic Models
This chapter discusses the significance and application of dynamic models for finding analytic solutions. Dynamic models are used extensively in many critical areas such as Space flight, electrical circuits, chemical reactions, population growth, investments and annuities, military battles, the spread of disease, and pollution control. Some of the important modeling concepts are state space, equilibrium, and stability. The simplest type of dynamic model is Steady state analysis which uses simple mathematic techniques. Dynamical system models are the most commonly used type of dynamic model which emphasizes on questions of stability. Discrete time dynamical system is another type where the time variable is modeled to be discrete and a time delay is built into the system.