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ECC4850

Mathematical economic theory ( 6 points, SCA Band 2, 0.125 EFTSL)

Undergraduate, Postgraduate
(BUS)

Leader: Associate Professor Vai-Lam Mui

Offered:
Not offered in 2006.

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%

Contact Hours: Three contact hours per week

Prerequisites: ECC3840 or ETC3400 or ETC3410 or a mathematics unit