I can calculate the result of $x^y$ provided that $y \in\mathbb{N}, x \neq 0$ using a simple recursive function:
$$ f(x,y) = \begin {cases} 1 & y = 0 \\ (x)f(x, y-1) & y > 0 \end {cases} $$
or, perhaps more simply stated, by multiplying $x$ by itself $y$ times.
Unfortunately, I am unsure how I can numerically approximate $x^y$ for non-integer rationals.
For example, what method can I use to approximate 33.3?
If possible, I would like to be able to do this using only elementary arithmetic operations, i.e. addition, subtraction, multiplication, and division.
There is a concept using "fractional continued fractions" invented by D. Gomez Morin , see http://domingogomez.web.officelive.com/gcf.aspx . I've fiddled some time ago with this and think I recall right, that you can find roots of m'th order and that the apparent complexitiy of the "fractional continued fraction" reduces to rational fractions recursively applied. I'll try next days to recover the algorithm again, but perhaps the link to the page is already helpful.
Just found the hint of D.G.Morin to an excerpt of Steven Finch's book "mathematical constants", where S.F. mentions also this method in a much compacted way (see page 4 of http://assets.cambridge.org/052181/8052/sample/0521818052ws.pdf ).
[update] For the first broken link there is an entry in the wayback internet archive: Domingo Fomez Morin [/update]