Fundamental methods for formulating and solving economic models will be developed. Emphasis will be on defining the mathematical structure of problems and on practical computer methods for obtaining model solutions. Major topics will include solution of systems of equations, complementarity relationships and optimization. Both finite and infinite dimensional problems will be addressed, the latter through the use of finite dimensional approximation techniques. Particular emphasis will be placed on solving dynamic optimization and equilibrium problems. Applications will be drawn from finance, agricultural and resource economics, macroeconomics and econometrics.
Course material created by Professor Paul L. Fackler.
Target audience: Graduate
Institution: North Carolina State University
Materials available: Problem sets or projects, Course outline or syllabus, Textbook recommendations