The problem of ferroconvection in a viscoelastic fluid layer is studied with the aim to investigate oscillatory motions. In this article, a stability analysis for both linear and nonlinear systems is carried out. In the linear stability analysis, the expressions for steady and oscillatory Rayleigh numbers are obtained and the effects of magnetic as well as viscoelastic parameters on the onset of viscoelastic ferromagnetic convection are investigated numerically. From the analysis, we found that the magnetic number (M_1), the stress relaxation time (lambda_1) and the nonlinearity of magnetization (M_3) have destabilizing influences on the onset of ferroconvection, whereas the strain retardation time (lambda_2) has stabilizing influence. In the weakly nonlinear stability analysis, the formula for heat transfer rate in terms of the Nusselt number is derived for oscillatory convection. From the analyses, we found that for increasing values of the magnetic number, stress relaxation time and nonlinearity of magnetization, the heat transfer rate rises, whereas it decreases for larger values of the strain retardation time. Moreover, the pitchfork bifurcation analysis yields that in order to reach the stable positions, the value of amplitude increases as the stress relaxation time increases, whereas a reverse trend is observed for the strain retardation time.
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