| Biography | |
|---|---|
 Prof. FREDERICK BETZ Portland State University, USA |
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| Title: 4-D MODELING OF A SUSTAINABLE ECONOMY: Integrating Economic, Environmental, Population, and Monetary Models | |
| Abstract:
Leontief’s Input-Output Analysis equation has long been used around the world and especially in China to calculate production and consumption balances. This research shows how to connect environmental and financial balances to production balances in an economic region by generalizing the Leontief’s equations from vector form to tensor form. This generalization provides an analytical capability to connect economic phenomena to environmental phenomena. This is important for creating economic and environmental policies aimed at sustainable economies. It provides a general modeling approach which can quantitatively connect economic processes with biological and physical processes of the environment. If economic processes cannot be measured as to their real physical/biological impacts, one does not know whether or not such economic processes are sustainable in nature. Also the tensor generalization enables the depiction of economic processes as partitioned into production processes and financial processes. We show how to extend the model from vector notation to tensor notation: with four dimensions of production, environment, population, and financial planes. The use of tensor mathematics for input-output models of both economy and its environment provides a data architecture to create simulation models of the environmental impact of an economy.
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| Biography:
Frederick Betz is currently Adjunct Professor in the Department of Management of Engineering and Technology, Portland State University, Portland, Oregon, USA. He received a PhD in physics from the University of California at Berkeley, but subsequently changed elds to operations research. He has taught at graduate business schools in several universities and served as a pro-gram ofcer in the U.S. National Science Foundation. He has recently taught as an adjunct or visiting professor at Portland State University in Oregon, Nile University in Egypt and Korea University and SUNY Korea in South Korea. He has published in the elds of management, philosophy of science, manage-ment of technology, and political economics. His recent books in print include Stability in International Finance — Application of Disequilibrium Theory (2016), Thinking — Vision, Competence, & Integrity (2015), Modeling Methodology For Sustainable Development (2015), Innovation and Global Competition: The Case of Korea (Co-authored with Youngrak Choi, Whasik Min, Won Koo Park, and Dong Woo Shin) (2014), Why Bank Panics Matter (2013), Societal Dynamics (2011), Managing Science (2010), and Managing Technological Innovation (3rd Ed.) (2010).
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