Keister, Todd (2005): Lecture Notes on The Optimal Growth Problem.
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Abstract
These notes provide an introduction to the study of optimal growth in the one-sector neoclassical growth model in continuous time. The model is developed using the analogy of Robinson Crusoe living on a deserted island. Both the Hamiltonian method and the phase diagram are presented and explained on an intuitive level. Some familiarity with optimization theory and differential equations, as well as a thorough understanding of intermediatelevel microeconomics, is assumed.
| Item Type: | MPRA Paper |
|---|---|
| Institution: | ITAM |
| Original Title: | Lecture Notes on The Optimal Growth Problem |
| Language: | English |
| Keywords: | Optimal Growth |
| Subjects: | O - Economic Development, Innovation, Technological Change, and Growth > O4 - Economic Growth and Aggregate Productivity > O40 - General |
| Item ID: | 1461 |
| Depositing User: | Todd Keister |
| Date Deposited: | 14 Jan 2007 |
| Last Modified: | 27 Sep 2019 12:56 |
| URI: | https://mpra.ub.uni-muenchen.de/id/eprint/1461 |
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