Numerical Scheme to Simulate Caputo Fractional Derivative-Based Unemployment Model
Alex Emmanuel Nti *
Department of Mathematical Sciences, University of Mines and Technology (UMaT), Tarkwa, Ghana.
Henry Otoo
Department of Mathematical Sciences, University of Mines and Technology (UMaT), Tarkwa, Ghana.
Joseph Acquah
Department of Mathematical Sciences, University of Mines and Technology (UMaT), Tarkwa, Ghana.
*Author to whom correspondence should be addressed.
Abstract
The study constructs a novel numerical scheme through the generalized Adams-Bashforth-Moulton Predictor Corrector method for the simulation of Caputo fractional derivative unemployment model. In developing the numerical scheme, the developed system is primarily summarised in the procedure of a fractional order of differential equations, and further described in the form of Volterra integral to help achieve the iterative formula. The application of the numerical scheme to the Caputo derivatives-based unemployment model yields the system’s discretized form for simulation purposes.
Keywords: Numerical scheme, caputo fractional derivative, adams-bashforth-moulton, predictor corrector, volterra integral, iterative