ECON 3551 – Homework Assignment 3

A. Draw a direction field (or use a computer to do so), and solve the following
differential equations by separation of variables. Then find the equilibrium
value(s) for each (if they exist) and state whether the solution is stable (by
finding the limit).
dy
1. dx
= −6x2 y, y(0) = 6

2. dy
dx
= sin (2x) π
sin(2y) , y( 2 ) =
π
2

dy
3. dx
= 2xe−y , y(0) = 2

B. Solve the following (homogeneous) linear ordinary differential equation

initial value problems:

1. y ′′ + y ′ − 2y = 0, y(0) = 0, y(1) = e

2. 4y ′′ − y = 0, y(0) = 2, y ′ (0) = 4

3. y ′′ + 6y ′ + 9y = 0, y(0) = −1, y ′ (0) = 4

4. y ′′ + 4y = 0, y(π) = 1, y ′ (π) = 0

5. 4y ′′ + y = 0, y(0) = 0, y(π) = −1

6. y ′′′ − 2y ′′ + y ′ − 2y = 0, y(0) = 1, y ′ (0) = 0, y ′′ (0) = 4

C. Solve the following (nonhomogeneous) linear ordinary differential equa-

tions [note that the left-hand sides are the same as in question B and there
are no initial conditions]:

1. y ′′ + y ′ − 2y = t2 + 2t + 1,
t
2. 4y ′′ − y = 2e 2 ,

3. y ′′ + 6y ′ + 9y = −30sin(3t),

4. y ′′ + 4y = 6t4 ,

5. 4y ′′ + y = −3cos(t),

6. y ′′′ − 2y ′′ + y ′ − 2y = −e5t

1
D. Solve the following linear ordinary differential equations:

1. y ′ + 2ty = 2t
y
2. y ′ − 3t
= 3
2
4+t 3
√
3. ty ′ + 6y = −2

E. Consider the following model of economic growth, where Y is output, K

is the capital stock, S is total savings, s is the savings rate, I is investment,
and δ is the rate of depreciation of the capital stock. Our assumptions are:

1. Y = f (K): output is a function of capital stock.

dY
2. dK
= c: the marginal product of capital is constant, i.e., the production
function exhibits constant returns to scale.

3. f (0) = 0: there is no production without capital

4. I = sY = S: investment is equal to savings (which is equal to the

savings rate times output)
dK
5. dt
= I − δK: the change in capital stock is equal to investment minus
depreciation
dY
Find the differential equation which describes the relationship between dt
and Y , and then solve for Y (t). [Hint: it will depend on s, c, and δ.]