The Wilson-Cowan equations describe mean activity of coupled excitatory (E) and inhibitory (I) neural populations. τ dE/dt = -E + S(w_EE·E - w_EI·I + P) and τ dI/dt = -I + S(w_IE·E - w_II·I). Depending on coupling, the system shows fixed points, limit cycles (neural oscillations), or bistability.