Macroeconomic modelA macroeconomic model is an analytical tool designed to describe the operation of the problems of economy of a country or a region. These models are usually designed to examine the comparative statics and dynamics of aggregate quantities such as the total amount of goods and services produced, total income earned, the level of employment of productive resources, and the level of prices. Macroeconomic models may be logical, mathematical, and/or computational; the different types of macroeconomic models serve different purposes and have different advantages and disadvantages.
Statistical modelA statistical model is a mathematical model that embodies a set of statistical assumptions concerning the generation of sample data (and similar data from a larger population). A statistical model represents, often in considerably idealized form, the data-generating process. When referring specifically to probabilities, the corresponding term is probabilistic model. A statistical model is usually specified as a mathematical relationship between one or more random variables and other non-random variables.
Ceramic engineeringCeramic engineering is the science and technology of creating objects from inorganic, non-metallic materials. This is done either by the action of heat, or at lower temperatures using precipitation reactions from high-purity chemical solutions. The term includes the purification of raw materials, the study and production of the chemical compounds concerned, their formation into components and the study of their structure, composition and properties. Ceramic materials may have a crystalline or partly crystalline structure, with long-range order on atomic scale.
Conceptual modelA conceptual model is a representation of a system. It consists of concepts used to help people know, understand, or simulate a subject the model represents. In contrast, a physical model focuses on a physical object such as a toy model that may be assembled and made to work like the object it represents. The term may refer to models that are formed after a conceptualization or generalization process. Conceptual models are often abstractions of things in the real world, whether physical or social.
CeramicA ceramic is any of the various hard, brittle, heat-resistant, and corrosion-resistant materials made by shaping and then firing an inorganic, nonmetallic material, such as clay, at a high temperature. Common examples are earthenware, porcelain, and brick. The earliest ceramics made by humans were pottery objects (pots, vessels, or vases) or figurines made from clay, either by itself or mixed with other materials like silica, hardened and sintered in fire.
Polymer matrix compositeIn materials science, a polymer matrix composite (PMC) is a composite material composed of a variety of short or continuous fibers bound together by a matrix of organic polymers. PMCs are designed to transfer loads between fibers of a matrix. Some of the advantages with PMCs include their light weight, high resistance to abrasion and corrosion, and high stiffness and strength along the direction of their reinforcements. The function of the matrix in PMCs is to bond the fibers together and transfer loads between them.
Elastic energyElastic energy is the mechanical potential energy stored in the configuration of a material or physical system as it is subjected to elastic deformation by work performed upon it. Elastic energy occurs when objects are impermanently compressed, stretched or generally deformed in any manner. Elasticity theory primarily develops formalisms for the mechanics of solid bodies and materials. (Note however, the work done by a stretched rubber band is not an example of elastic energy. It is an example of entropic elasticity.
Continuum mechanicsContinuum mechanics is a branch of mechanics that deals with the deformation of and transmission of forces through materials modeled as a continuous mass rather than as discrete particles. The French mathematician Augustin-Louis Cauchy was the first to formulate such models in the 19th century. A continuum model assumes that the substance of the object completely fills the space it occupies. This ignores the fact that matter is made of atoms, however provides a sufficiently accurate description of matter on length scales much greater than that of inter-atomic distances.
Finite element methodThe finite element method (FEM) is a popular method for numerically solving differential equations arising in engineering and mathematical modeling. Typical problem areas of interest include the traditional fields of structural analysis, heat transfer, fluid flow, mass transport, and electromagnetic potential. The FEM is a general numerical method for solving partial differential equations in two or three space variables (i.e., some boundary value problems).
Ramsey–Cass–Koopmans modelThe Ramsey–Cass–Koopmans model, or Ramsey growth model, is a neoclassical model of economic growth based primarily on the work of Frank P. Ramsey, with significant extensions by David Cass and Tjalling Koopmans. The Ramsey–Cass–Koopmans model differs from the Solow–Swan model in that the choice of consumption is explicitly microfounded at a point in time and so endogenizes the savings rate. As a result, unlike in the Solow–Swan model, the saving rate may not be constant along the transition to the long run steady state.
