0 points, SCA Band 2, 0.000 EFTSL
Postgraduate - Unit
Refer to the specific census and withdrawal dates for the semester(s) in which this unit is offered.
- First semester 2017 (Day)
Mathematical preliminaries; static optimisation theory; introduction to calculus of variations and optimal control theory; necessary and sufficient conditions; investment theory: costs of adjustment, neoclassical, Q theory; consumption theory; use of duality theory; growth models; Hamilton Jacobi theory; discrete time stochastic models; selected current applications.
The learning goals associated with this unit are to:
- understand the theories of static optimisation, including the first and second order conditions for the multi-dimensional case
- analyse mathematically how changes in the economic environment affect economic agents' optimal decisions
- analyse dynamic optimisation problems faced by economic agents
- develop students' ability to access frontier research in economics that routinely makes use of many mathematical concepts in optimisation theories.
Within semester assessment: 40% + Examination: 60%
Minimum total expected workload equals 144 hours per semester.
See also Unit timetable information