Mayergoyz Publishes Book

ECE Professor Isaak Mayergoyz has published a book titled “Theory of Macroeconomic Hysteresis”. The book discusses the mathematical theory of macroeconomic hysteresis, which is the theory of aggregation of sunk cost microeconomic hysteresis.

Macroeconomics can be viewed as a system with a discreet memory of past economic shocks which result in hysteresis. In the book, the basic properties of macroeconomic hysteresis are mathematically studied. It is demonstrated that certain important properties of macroeconomic hysteresis (such as history -dependent branching, erasure effects of some economic shocks, geometric features of macroeconomic hysteresis loops, etc.) are insensitive to specific structures of microeconomic hysteresis subject to aggregation. This suggests that the above properties may be viewed as universal. Furthermore, it is pointed out that these aggregation models have the prediction power of future macroeconomic branching, which may be employed for the prediction of future economic evolution.

Mayergoyz is the Alford L. Ward Professor in Electrical and Computer Engineering, as well as a Distinguished University Professor and a Distinguished Scholar-Teacher. After joining ECE in 1980, he established with Professor Emad the department’s electric power engineering curriculum and education program.

Highly recognized in the field of electrophysics, Mayergoz is a Fellow of the Institute of Electrical and Electronics Engineers (IEEE). In the past, he was a Visiting Research Fellow of the GE Research and Development Center, and a Distinguished Lecturer of the IEEE Magnetics Society. In 2009, he was awarded the Achievement Award of the IEEE Magnetics Society, the highest award given by the society.

The co-author of “Theory of Macroeconomic Hysteresis” is Can Korman (ECE (B.S. ‘85, M.S. ‘87, Ph.D. ‘90), Professor and former Chair of the ECE Department, as well as Associate Dean of the George Washington University School of Engineering (GWU). While completing his graduate studies, Korman was advised by Professor Mayergoyz. His research interests include microelectronics, VLSI, magnetics, numerical modeling and digital signal processing.

Published July 26, 2024