Mathematical Models of Socio-Economic Systems: An Example

This paper uses a specific example of a relatively simple socio-economic system to demonstrate a methodology for developing state models of socio-economic systems in terms of the structural features of the system. Numerical values of the parameters in the resulting model are either determined from past records of the organization or are obtainable from surveys. A computer solution is presented to indicate the general nature of the performance characteristics that can be simulated with such a model.