ENGLISH

Dynamic Economics : Optimization by the Lagrange Method.

By Gregory C. Chow

Book information

Publisher
Oxford University Press
Year
2014
ISBN
9780195356311, 0195356314
Language
english
Format
DJVU
Filesize
8 MB (8366260 bytes)
Pages
\252
Topic
Economy
Time added
2022-06-06 16:04:37

Description

This work provides a unified and simple treatment of dynamic economics using dynamic optimization as the main theme, and the method of Lagrange multipliers to solve dynamic economic problems. The author presents the optimization framework for dynamic economics in order that readers can understand the approach and use it as they see fit. Instead of using dynamic programming, the author chooses instead to use the method of Lagrange multipliers in the analysis of dynamic optimization because it is easier and more efficient than dynamic programming, and allows readers to understand the substance of dynamic economics better. The author treats a number of topics in economics, including economic growth, macroeconomics, microeconomics, finance and dynamic games. The book also teaches by examples, using concepts to solve simple problems; it then moves to general propositions.

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