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Financial Analytics: Science and Experience
 

Alternative economic analysis for the explored resource base development

Vol. 8, Iss. 9, MARCH 2015

PDF  Article PDF Version

Available online: 8 March 2015

Subject Heading: MATHEMATICAL ANALYSIS AND MODELING IN ECONOMICS

JEL Classification: 

Pages: 55-64

Zuev G.M. Moscow State University of Economics, Statistics and Informatics, Moscow, Russian Federation
gmzuev@mail.ru

Shushunov V.V. Moscow State University of Economics, Statistics and Informatics, Moscow, Russian Federation
vshushunov@yandex.ru

Importance As a result of application of the earlier developed model apparatus to devise the most effective program for the development of natural resources, which are distributed on the level of specific expenditures for production, the paper offers variants calculations of their rational development on the basis of computing system, which was developed by us. We present an alternative economic analysis for carrying out rational development of the available natural resources stocks with differential level of specific costs for production.
     Objectives The main goal of the research consists in showing the capacity of the developed formalized description and software package, the possibilities of their direct application for reasoning of economic analysis options of corporate resources development.
     Methods Dynamic, formalized description of subject domain, which we have developed, includes our optimization model, which serves as a framework of analysis. It is based on a specially allocated system of basic characteristics of the analyzed object (a resource-extraction complex) in physical terms. Dynamics of the natural resource prices and distribution of stocks expenses, dynamics of prices and the need for extracted raw materials act as an exogenous information.
     Results The paper offers model's calculation options of economically optimum development of resource base with differentiating dynamics of prices for extracted raw materials and the levels of its demand. It allows comprehending analytical and applied potential of the available formalized description and software package, which is implemented on this basis.
     Conclusions and Relevance The paper represents generalization of classical approaches of economic and mathematical analyses in relation to the natural resources stocks development. At the same time, it considerably transforms the results connected with the substantiation of an expediency of parallel development of natural resources stocks with differentiating level of specific production costs. We reveal the backbone structural specific features of corresponding interrelations, which are implemented at this stage of carried-out calculations of our software package.

Keywords: Keywords: software package, economic-mathematical modeling, economic growth, natural resources, optimization

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