MW 2:30-4, 10-280For those students who are interested in applying their knowledge from general courses in dynamic systems, such as 6.241, to problems relevant for large-scale network-type dynamic systems, this course is for you. The course introduces unique features of large-scale dynamic models and typical assumptions made at present. It is demonsatrated that a typical competitive industry does not lend itself to these assumptions. Consequently, stability of dynamic systems under competition as well as their sub-optimal performance emerge as open questions. In this course a specific approach in terms of interaction variables among the subsystems at various levels of system hierarchy is suggested, that does not require making the conventional assumptions. The stability andsub-optimality problems are posed using this framework. The interplay of technical and economic feedback on systemwide performance under competition are studied in considerable depth.
Dr. Marija Ilic, 10-059, x4682
3-0-9
Prerequisites: 6.241 or equivalent
This course is also for TPP students who have taken 6.683 and learned about the specific issues of the electric power industry undergoing deregulation and becoming competitive. This course should help you formulate these problems in a framework needed to pose them as large dynamic systems whose closed-loop dynamics span over time frames ranging from minutes through hours/days. The slowest processes are driven by economic signals, and the faster by technical processes.
Finally, the course may be of interest to graduate students from the Economics Department and Sloan School, in particular to those interested in viewing economic processes as dynamic, and not making an a priori assumption that the system is iat its economic equilibrium to start with. This assumption is hard to justify when studying industries in transition, and attempting to understand the impact of the type of industry structure (competitive vs coordinated) on systemwide social welfare benefit maximization. We will learn why an industry which rests on network interactions is a different theoretical problem than the standard supply/demand problem.
Intended text: M. Ilic and S.X. Liu, Hierarchical Power Systems Control: Its Value in a Changing Industry, Springer-Verlag Series on Advances in Industrial Control, February 1996.
|
Created: Dec 8, 1995
|
Modified: Dec 8, 1995|
Your comments
and inquiries are welcome.