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Applications of differential calculus in economics. A few simple examples for first-year students

100%
Biernacki M.
Didactics of Mathematics
|
2016
|
issue 13(17)
5-12
EN
First-year students usually ask whether they really need mathematics. This paper presents several simple examples applying differential calculus in microeconomics, which allow students to perceive that learning mathematics during their studies of economics does “pay off”.
2
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Estimation of the price elasticity of petroleum products' consumption in Ukraine

88%
Galchynskyi L.
Equilibrium. Quarterly Journal of Economics and Economic Policy
|
2020
|
vol. 15
|
issue 2
315-339
EN
Research background: The analysts of the petroleum product markets of industrial countries believe that the elasticity of demand varies at different periods, which gave rise to the hypothesis that behavioral and structural factors have changed the consumers? reaction during the last few decades, with a change in prices of petroleum products. Purpose of the article: The purpose of this article is to study the elasticity of demand and prices in order to identify changes in consumer behavior in the oil market after significant socio-economic shocks and to establish a correlation between changes in elasticity and price volatility, with the Ukrainian petroleum products market as an illustrative example. Methods: Based on the time series of the petroleum product market of Ukraine, static and dynamic models for assessing the demand elasticity were constructed. It was found that the time series of demand for petroleum products is non-stationary but then the time series of the first differences is stationary according to the extended Dickey-Fuller test; further, the fact of co-integration between time series of consumption, income, and prices was established by the Johansson test. This made it possible to construct co-integration dependence, allowing, in turn, the development of models for assessing the elasticity of demand for petroleum products, on the basis of which objective assessments of changes in consumer behavior were established. Analysis of the monthly calculation of petroleum products? price volatility during the period 2008 to 2018 has showed that the values of volatility increased abnormally in the period between the beginning of 2014 and the middle of 2015. The estimates of price and demand elasticities obtained for the two periods up to the beginning of 2014 and the second half of 2015 differ significantly from the values of the corresponding elasticities between the beginning of 2014 and the middle of 2015. Findings & Value added: Assessments of income elasticities and price elasticities for petroleum products in the Ukrainian market were obtained by three co-integration models, both short and long term, for each of the three previously defined time intervals. In one of them, characterized by a high level of price volatility conditionally referred to as a crisis, the value of elasticities differed markedly from the corresponding values in the other two periods, in particular, -0.383 for price elasticity and 1.068 for a long-term bond. In the other two periods, these were, respectively, 0.543 for price elasticity and 0.274 for long-term pre-crisis elasticity, and -0.470 for price elasticity and 0.235 for long-term post-crisis elasticity. Appropriate elasticity estimates were obtained for both the short-run and the dynamic model, for the same defined intervals. A comparison of these estimates showed the closeness of the values of elasticities for the pre-crisis and post-crisis intervals and a marked difference from the estimates of the elasticities in the crisis interval. Thus, it was found that a significant change in elasticities is accompanied by an increase in price volatility.
3
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Organizacja zatrudnienia tymczasowego i telepracy - warunki i cechy charakterystyczne

75%
Baron-Wiaterek M.
Organizacja i Zarządzanie : kwartalnik naukowy
|
2008
|
vol. nr 4
73-86
PL
Procesy zachodzące w polskiej gospodarce i rynku pracy wymagają zwiększenia jego elastyczności. Może ona następować w różnych formach, z których szczególne znaczenie ma zatrudnienie tymczasowe i telepraca.
EN
Occurring processes in the Polish economy and the labour market require increasing its elasticity. They can follow in different forms, which a temporary employment and a telecommuting are in special importance.
4
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Zróżnicowanie regionalne elastyczności produkcji w towarowych gospodarstwach rolnych w Polsce

63%
Nowak A.
Journal of Agribusiness and Rural Development
|
2015
|
issue 1(35)
75-82
EN
The aim of the study was to identify and examine an elasticity of relations between production factors (land, labour, capital) and incomes gained by using the above mentioned factors at farms of four macro-regions FADN, i.e.: Pomorze and Mazury, Wielkopolska and Śląsk, Mazowsze and Podlasie, Małopolska and Pogórze. Production function models of Cobb-Douglas (C-D) were assessed for every macro-region for years: 2010, 2011 and 2012. The survey shows that in all macro-regions as well as in all surveyed years, elasticity coeffi cient of total net added value was higher than 1 which means increasing incomes in scale. Increase of net added value in three among four surveyed macro-regions depended mainly on land factor while labour input (excluding Mazowsze and Podlasie where labour factor was important) and fi xed assets factor appeared to be of least importance.
PL
Celem pracy jest ocena elastyczności związków między czynnikami produkcji (ziemi, pracy i kapitału), a uzyskanymi w wyniku ich zastosowania dochodami w gospodarstwach rolnych czterech makroregionów FADN, tj. Pomorze i Mazury, Wielkopolska i Śląsk, Mazowsze i Podlasie oraz Małopolska i Pogórze. Dla każdego makroregionu oszacowano w tym celu modele funkcji typu Cobba-Douglasa (C-D) dla 2010, 2011 oraz 2012 roku. Z badań wynika, że we wszystkich regionach oraz we wszystkich badanych latach współczynnik elastyczności ogólnej wartości dodanej netto był wyższy od 1, co oznacza rosnące przychody ze skali. Wzrost wartości dodanej netto w 3 spośród 4 badanych makroregionów zależał przede wszystkim od czynnika ziemi, mniejszy wpływ miały nakłady pracy (poza regionem Mazowsze i Podlasie, gdzie ich znaczenie było największe), a w najmniejszym stopniu we wzroście tej kategorii dochodowej partycypowały aktywa trwałe
5
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The Position of Organic Farming within the European Union's Agriculture (Selected Differences Existing Among Individual Countries)

63%
Luboš S., Michal S., Petr P.
Littera Scripta
|
2013
|
vol. 2
124-138
EN
This paper analyzes basic development trends in European Union's organic farming during the period 2005-2011. The analysis is based on data provided by EUROSTAT, IFOAM and FAOSTAT. Individual time series are analyzed through basic index, chain index, geomean, correlation analysis and elasticity analysis and logarithmical regression. The aim of this paper is to identify basic development trends in the following areas: organic land development; the number of organic farms; and the value of organic market development. Research also identi es existing differences among individual EU countries in the area of organic farming development. A part of the paper is also devoted to the relationship that exists between organic farming development and agricultural subsidies/supports in individual EU countries. The size of organic farmland increased significantly and also the number of producers increased. The significant organic farming growth can be demonstrated in majority of analyzed countries. It should be emphasized that high growth of organic farming size was obvious especially in the new EU countries. In general, it is clear that organic farming represents a specific market niche in the European agricultural market. Organic farming development is connected especially with the new consumption trends and also with the growth of individual countries economies and especially with the growth of income per capita in individual countries. The growth of organic farming is stimulated especially by the demand side of economy rather than by government subsidies. The conducted analysis proved much higher correlation and elasticity of organic farming sector performance in relation to individual countries' economy development than it is in relation to individual countries' government expenditures.
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