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ABSTRACT
Differential equations are one useful tool in mathematics that helps in modeling real situations relating to rates of change. This study aims at the application of differential equations in our world, using economic analysis as a case study. However, we have not just jumped there but followed a gradual process of introducing the subject matter, looking at its definition, history, and some other basic definitions of concepts to relate to it. We have also endeavored to look at the solution of differential equations and the methods by which they can be obtained, such as the variable separable method, the homogeneous equations method, et cetera. This is done in a detailed manner. The economic concepts we have used for our study are dynamic market equilibrium and continuously compounding interest. In this study, abbreviations like ODE(s), PDE(s), and DE(s) have been used to represent ordinary differential equation(s), partial differential equation(s) and differential equation(s) respectively. It is hoped that through this study, differential equations will be used more in our world today.
