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Module MA3482: Mathematical Economics II

Credit weighting (ECTS)
5 credits
Semester/term taught
Hilary term 2012-13
Contact Hours
11 weeks, 2 lectures and 1 tutorial per week
Lecturer
ECON
Learning Outcomes
On successful completion of this module, students will be able to:
  • Solve systems of differential/difference equations and describe their dynamic properties;
  • Describe the basics of dynamic optimisation;
  • Derive the optimality conditions of different growth models and interpret their economic implications;
  • Interpret the transitional dynamics of each model and explain how these are affected by the underlying assumptions;
Module Content
  • Math review;
  • The Solow growth model;
  • Foundations of Neoclassical growth;
  • The Neoclassical growth model;
The goal of this module is to familiarise student swith some applications of dynamic analysis in economics. The course will be divided in two parts. First part will review the basics of dynamic analysis. The second part will study dynamic macroeconomic models giving particular attention to economic growth.
 
Module Prerequisite
MA3481 - Mathematical Economics I
Recommended Reading
Daron Acemoglu, Introduction to Modern Economic Growth, Princeton University Press, 2009
 
Assessment Detail
This module will be examined jointly with MA3481 in a 3-hour examination in Trinity term, except that those taking just one of the two modules will have a 2 hour examination. Continuous assessment will contribute 10% to the final grade for the module at the annual examination session.