Mathematics for Economists
- The course has been designed to convey to the students how mathematics can be used in the modern micro and macro economic analysis.
- Emphasis is placed on the model-building techniques, methods of solution and economic interpretations.
- Topics studied comprise the following: methods of optimization, dynamic programming, optimal control theory.
- Have the ability to solve optimization problems in the case of numerous inequality constraints,
- Have acquired the knowledge of the methods of the optimal control theory its applicability for solving problems in economics
- Have acquired the knowledge of the methods of the dynamic programming and its applicability for solving problems in economics
- Basics of optimization, elements of convex analysis and Kuhn-Tucker method
- Dynamic Optimization in Continuous Time
- Finite-Horizon Dynamic Programming
- Final testOpen questioned test
- Homework 1Homework will be collected, marked and returned to the students
- Homework 2Homework will be collected, marked and returned to the students
- Interim assessment (1 module)0.6 * Final test + 0.2 * Homework 1 + 0.2 * Homework 2
- Dynamic optimization : the calculus of variations and optimal control in economics and management, Kamien M. I., Schwartz N. L., 2012
- Kamien, M. I., & Schwartz, N. L. (2012). Dynamic Optimization, Second Edition : The Calculus of Variations and Optimal Control in Economics and Management (Vol. 2nd ed). Mineola, N.Y.: Dover Publications. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=1154370
- Mathematics for economists, Simon C. P., Blume L., 1994
- A first course in optimization theory, Sundaram R. K., 2011