Courses Master Display 2021-2022
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| Course title | Mathematical Research Tools | |||||||||||||||||||||||||||||||||||||||
| Course code | EBC4182 | |||||||||||||||||||||||||||||||||||||||
| ECTS credits | 6,5 | |||||||||||||||||||||||||||||||||||||||
| Assessment | Whole/Half Grades | |||||||||||||||||||||||||||||||||||||||
| Period |
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| Level | Advanced | |||||||||||||||||||||||||||||||||||||||
| Coordinator |
Andrés Perea y Monsuwé For more information: a.perea@maastrichtuniversity.nl |
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| Language of instruction | English | |||||||||||||||||||||||||||||||||||||||
| Goals |
The goal of this course is learning how to find, classify and analyze solutions to optimization problems.
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| Description |
In economics and business we must often solve maximization or minimization problems. Think, for instance, of a firm that wants to minimize its costs while guaranteeing a certain production level, or investors that wish to find the optimal portfolio given a certain degree of risk. How do we find the solutions to such optimization problems, and how can we classify and analyze such solutions? This will be the main objective of this course. We will concentrate on four themes: (i) optimization problems without constraints, (ii) optimization problems with equality and inequality constraints, (iii) parametrized optimization, that is, how does the optimal solution change if we change the underlying parameters in the problem, and (iv) optimization in a dynamic setting with finite and infinite horizon.
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| Literature |
* Rangarajan K. Sundaram: "A First Course in Optimization Theory", Cambridge University Press, 2011.
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| Prerequisites |
Basic level of mathematics (e.g. Sydsaetter et.al, Mathematics for Economic Analysis).
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| Teaching methods (indicative; course manual is definitive) | PBL / Lecture / Assignment | |||||||||||||||||||||||||||||||||||||||
| Assessment methods (indicative; course manual is definitive) | Participation / Written Exam | |||||||||||||||||||||||||||||||||||||||
| Evaluation in previous academic year | For the complete evaluation of this course please click "here" | |||||||||||||||||||||||||||||||||||||||
| This course belongs to the following programmes / specialisations |
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