Dynamic Optimization and Economic Applications OpenCourseWare: A Free Graduate Level Economics Class by MIT
Learn about the use of dynamic programming in the world of Economics with this free OpenCourseWare class from MIT. 'Dynamic Optimization and Economic Applications (Recursive Methods)' examines methods of problem solving in economic theory with a focus on identifying the most optimal solution in a given set of problems. This course is recommended for students studying Economics and mathematics.
Dynamic Optimization and Economic Applications (Recursive Methods): Course Specifics
| Degree Level | Free | Audio | Video | Downloads |
|---|---|---|---|---|
| Graduate | Yes | No | No | Yes |
| Lectures/Notes | Study Materials | Tests/Quizzes |
|---|---|---|
| Yes | Yes | No |
Dynamic Optimization and Economic Applications (Recursive Methods): Course Description
Mathematically, Economics can be analyzed as a series of problems, some within one another, that rely on both known and unknown parameters. This free OpenCourseWare from MIT in Cambridge teaches students methods for solving these problems using dynamic programming and optimization. Professor Iván Werning presents lectures on the mathematical concept of optimization as it applies to Economics, which seeks to find the best possible solution to a problem within a set of rules. For instance, economic players are expected to try to minimize risk while maximizing profit. The course covers both deterministic and stochastic models of dynamic optimization. Throughout the lessons, students also learn about the real-world applications of these ideas. This Economics course could be especially helpful to students pursuing a Master of Science in Mathematical Finance.
Lecture notes, a reading list and sample problem sets with solutions are available online. If you're interested in this free course, visit the economic applications of dynamic optimization course page.
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