Static Model refers to the model of system not during 
runtime. This is more structural than behavioral. This 
includes classes and it relationships(Class Diagram), 
Packages etc. For example, the concept of class itself 
static. At runtime there is no concept of Class, Sub class 
etc.

Dynamic model refers to runtime model of the system. This 
includes the concept of Objects, interactions, 
Collaborations, sequences of operations, Activities, state 
changes, memory model etc.