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Clayton First semester 2007 (Day)
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.
Written (three assignments): 40%
Examination (3 hours): 60%
Three contact hours per week