Economics And Thermodynamics

The financial system acts as a time machine, pulling perceptions of the future into the present through such mechanisms as stock price/earnings multiples and assumptions about borrowers’ ability to pay back loans. The functioning of these mechanisms is critically dependent upon the perception of continued and perhaps limitless, economic growth.

This book presents new developments in non-local mathematical modeling and mathematical analysis on the behavior of solutions with novel technical tools. Theoretical backgrounds in mechanics, thermo-dynamics, game theory, and theoretical biology are examined in details. It starts off with a review and summary of the basic ideas of mathematical modeling frequently used in the sciences and engineering.

Climate change, species extinction, energy and raw material shortages are global challenges that are directly linked to our economic activity. They affect our very existence and jeopardize our ability to lead a good life today and in the future, both as a society and as individuals.

This book is a concise, readable, yet authoritative primer of basic classic thermodynamics. Many students have difficulty with thermodynamics, and find at some stage of their careers in academia or industry that they have forgotten what they learned, or never really understood these fundamental physical laws.

Equilibrium Thermodynamics gives a comprehensive but concise course in the fundamentals of classical thermodynamics. Although the subject is essentially classical in nature, illustrative material is drawn widely from modern physics and free use is made of microscopic ideas to illuminate it. The overriding objective in writing the book was to achieve a clear exposition: to give an account of the subject that it both stimulating and easy to learn from. Classical thermodynamics has such wide application that it can be taught in many ways. The terms of reference for Equilibrium Thermodynamics are primarily those of the undergraduate physicist; but it is also suitable for courses in chemistry, engineering, materials science etc. The subject is usually taught in the first or second year of an undergraduate course, but the book takes the student to degree standard (and beyond). Prerequisites are elementary or school-level thermal physics.