ECC4850

Mathematical economic theory

(BUS)

Associate Professor Keith McLaren

7 points + Two 1.5 hour lectures per week + First semester + Clayton + Prerequisites: ECC3840 or ETC3400 or ETC3410 or a mathematics subject

Synopsis: 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.

Assessment: Written (three assignments): 40% + Examination (3 hours): 60%