Age-structured SIR model and resource growth dynamics: a COVID-19 study

In this paper, we discuss three different response strategies to a disease outbreak and their economic implications in an age-structured population. We have utilized the classical age structured SIR-model, thus assuming that recovered people will not be infected again. Available resource dynamics is governed by the well-known logistic growth model, in which the reproduction coefficient depends on the disease outbreak spreading dynamics. We further investigate the feedback interaction of the disease spread dynamics and resource growth dynamics with the premise that the quality of treatment depends on the current economic situation. The very inclusion of mortality rates and economic considerations in the same model may be incongruous under certain positions, but in this model, we take a “realpolitik” approach by exploring all of these factors together as it is done in reality.