Abstract:

We can encounter functional differential equations in many fields. Mathematical models which also describe ordinary everyday problems contain applications of functional differential equations. Their significance increased during the 19th century and along with it did their usage e.g. in biology, medicine, ecology, physics or economy. This paper shows important results of the usage of mathematical models from different fields, especially from economy. In microeconomics these are the models describing the price fluctuation, in macroeconomics business cycle theories and in physics the pantograph equations.