ECO244: Applied Mathematics 2 Fall 2010

MORE PRACTICE PROBLEMS

Topic: Differential equation (First order with constant coefficient
and constant term)
Course Instructor: (HHn)
Q1. Use integration to solve each of the following differential equations
subject to the given initial
Conditions.
a.

dy
t 2 3t 5 ; y (0) 1
dt

b.

dy
2t ; y (0) 7
dt

Q2. Solve the differential equation

dy
3 y 180 , when the initial condition is y (0) 40 .
dt

Q3. Consider the two-sector model

dY
0.5(C I Y )
dt
C 0.7Y 500
I 0.2Y 500

Find an expression for Y (t ) , when Y (0) 15000 . Is the system stable or

unstable?
Q4. Consider the market model
Q s 3P 1
Q D 2 P 9
dP
0.5(QD QS )
dt

Find expressions for P (t ) , when P (0) 1 . Is the system stable or unstable?

Q5. A simple model of the growth of an economy is based on three
assumptions.
(1) Savings, S, are proportional to income, Y, so that S Y , ( 0 )
(2) Investment, I, is proportional to the rate of change of Y so that I
0)

(3) Investment and savings are equal so that I S

dY
(
dt

Use these assumptions to show that

formula for Y (t )
In terms of Y (0) .

dY

Y . and hence write down a

dt

Q6. Consider the differential equation

dy
2 y 5e 3t
dt

(a) Find the complementary function.

(b) By substituting y De 3t into this equation, find particular solution.
(c) Use your answers to parts (a) and (b) to write down the general solution
and hence find the
specific solution that satisfies the initial condition, y(0) = 7.
(d) Is the solution in part (c) stable or unstable?