To learn the tools of dynamic optimization and the applications of these in economic theory.
Contents
Calculus of variations, optimal control theory, dynamic programming.
Teaching methods
Teaching method
Contact
Online
Lectures
32 h
0 h
Exercises
16 h
0 h
Lectures (if arranged) are in Finnish.
Teaching language
Finnish
Modes of study
1. Chiang: Elements of Dynamic Optimization. McGraw-Hill 1992. OR 2. Sydsaeter-Hammond-Seierstad-Strom: Further Mathematics for Economic Analysis. Financial Times/Prentice Hall 2005 (selected parts).
Note: The book exam (min 3 ECTS) is available only on predetermined dates.See the exam schedule (tenttiaikataulu) of economics. For more information, contact the person in charge.
Evaluation
Numeric 1-5.
Study materials
1. Chiang: Elements of Dynamic Optimization. McGraw-Hill 1992. OR 2. Sydsaeter-Hammond-Seierstad-Strom: Further Mathematics for Economic Analysis. Financial Times/Prentice Hall 2005 (selected parts).