Courses Master Display 2020-2021
|Course Description||To PDF|
|Course title||Mathematical Research Tools|
Andrés Perea y Monsuwé
For more information: firstname.lastname@example.org
|Language of instruction||English|
The goal of this course is learning how to find, classify and analyze solutions to optimization problems.
PLEASE NOTE THAT THE INFORMATION ABOUT THE TEACHING AND ASSESSMENT METHOD(S) USED IN THIS COURSE IS WITH RESERVATION. THE INFORMATION PROVIDED HERE IS BASED ON THE COURSE SETUP PRIOR TO THE CORONAVIRUS CRISIS. AS A CONSEQUENCE OF THE CRISIS, COURSE COORDINATORS MAY BE FORCED TO CHANGE THE TEACHING AND ASSESSMENT METHODS USED. THE MOST UP-TO-DATE INFORMATION ABOUT THE TEACHING/ASSESSMENT METHOD(S) WILL BE AVAILABLE IN THE COURSE SYLLABUS.
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.
* Rangarajan K. Sundaram: "A First Course in Optimization Theory", Cambridge University Press, 2011.
Basic level of mathematics (e.g. Sydsaetter et.al, Mathematics for Economic Analysis).
|Teaching methods (indicative; course manual is definitive)||PBL / Lecture / Assignment|
|Assessment methods (indicative; course manual is definitive)||Participation / Written Exam|
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|This course belongs to the following programmes / specialisations||