| Offered By: |
School of Economics |
| Academic Career: |
Graduate Coursework |
| Course Subject: |
Economics |
| Offered in: |
Second Semester, 2008 |
| Unit Value: |
6 units |
| Course Description: |
The foundations of economic theory are based on mathematical models. Thus, a thorough understanding of the economic content of such models is not possible without a clear understanding of the mathematical concepts that underpin the modeling. The objective of this course is to prepare students for advanced courses in economic theory, such as the ones required of students enrolled in Honours, Masters and PhD programs, by discussing fundamental tools and concepts of mathematics on which these courses are based. The common thread in our approach will be the analysis of dynamical systems and of dynamic optimization methods. On a more fundamental level, we will attempt to understand the corresponding techniques by analysing how and why they can be derived from certain basic assumptions using standard mathematical ideas. |
| Learning Outcomes: |
The objective of this course is to prepare students for advanced courses in economic theory, such as the ones required of students enrolled in Honours, Masters and PhD programs, by discussing fundamental tools and concepts of mathematics on which such courses are based. The main focus will be to provide an introduction to the mathematical techniques used to analyse dynamical systems in economics, including a discussion of dynamic optimization methods. Topics covered are difference equations, markov chains, dynamic programming, differential equations, and optimal control theory. |
| Indicative Assessment: |
Midterm Exam (40%) Final Exam (60%)
|
| Workload: |
12 hours per week |
| Course Classification(s): |
|
| Areas of Interest: |
Econometrics and Economics |
| Eligibility: |
At least an average of 65% (or equivalent) in the final two years of an Australian undergraduate degree with introductory level courses in Economics, Statistics and Econometrics |
| Prescribed Texts: |
See Course Outline: http://teaching.fec.anu.edu.au/ECON2127/ECON2127_8014.pdf |
| Preliminary Reading: |
See Course Outline: http://teaching.fec.anu.edu.au/ECON2127/ECON2127_8014.pdf |
| Indicative Reading List: |
See Course Outline: http://teaching.fec.anu.edu.au/ECON2127/ECON2127_8014.pdf |
| Programs: |
Graduate Diploma in Applied Economics, Graduate Diploma in Economics, Master of Economic Policy, Master of Applied Economics, Master of International Trade and Economic Relations, Master of International and Development Economics, Graduate Diploma in Economic Policy, and Master of Economics |
| Other Information: |
For further information please refer to http://ecocomm.anu.edu.au/courses/course.asp?code=ECON8014 |
| Academic Contact: |
See http://ecocomm.anu.edu.au/courses/course.asp?code=ECON8014 |
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