LEARNING OUTCOMES
This course is intended to aid the student in developing comfort and familiarity with the level of mathematics used in economics research. The course focuses on specifically on a careful treatment of optimization as applied to economic models. Special focus is given to introducing and developing fundemental tools in convex optimization and dynamic optimization.
Credits: 6
Schedule: 25.02.2025 - 10.04.2025
Teacher in charge (valid for whole curriculum period):
Teacher in charge (applies in this implementation): Mitri Kitti
Contact information for the course (applies in this implementation):
CEFR level (valid for whole curriculum period):
Language of instruction and studies (applies in this implementation):
Teaching language: English. Languages of study attainment: English
CONTENT, ASSESSMENT AND WORKLOAD
Content
valid for whole curriculum period:
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Must know: KKT conditions, convex programming, the value function, the maximum principle, principle of optimality, value functions, bellman equations
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Should know: Properties of metric spaces, optimization with uncertainty, continuous time optimization, numerical optimization methods
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Nice to know: Properties of dynamical systems, phase diagrams, Markov decision problems, stochastic processes
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Assessment Methods and Criteria
valid for whole curriculum period:
Exam and Assignments
Workload
valid for whole curriculum period:
- Contact teaching 24h
- Exercise Sessions 8h
- Exam 2h
- Independent work 126h
DETAILS
Study Material
valid for whole curriculum period:
Textbook: Avinash Dixit, “Optimization in Economic Theory: Second Edition,” Oxford University Press, 1990
Substitutes for Courses
valid for whole curriculum period:
Prerequisites
valid for whole curriculum period:
FURTHER INFORMATION
Further Information
valid for whole curriculum period:
Teaching Language: English
Teaching Period: 2024-2025 Spring IV
2025-2026 Spring IV