Edgar Marca

GA-041 J. Karam

Question 1. List a set of examples of mathematical concepts applied in areas like

Economy, Social Science, Engineering, etc.
Answer 1. Convection is the collective motion of particles in a fluid and actually
encompass both diffusion and advection.
Advection is the motion of particles along a bulk flow.

+ .(u) = 0
t
Diffusion is the net movement of particles from high concentration to low
concentration.

= . (D)
t
D: Diffusion Coefficient.
In Economy, the Black-Scholes equation for option pricing is a diffusion-advection
equation. In Social Science, the spread of crime can be modeled by a reactiondiffusion-advection system. In Ecology, the mathematical model for fish schools are
modeled by a ecological diffusion model like Fokker-Planck. Additionally, diffusion
models can be used for studying insect and animal dispersal and invasion. The
diffusion can be applied to model contamination spread in a lake. In Engineering,
the diffusion equation can be used to model the heat conduction. The idea of flow
can be applied to traffic problems.