EC400 Part II, Math for Micro: Lecture 1 Leonardo Felli NAB.SZT 9 September 2010
Course Outline Lecture 1: Tools for optimization (Quadratic forms). Lecture 2: Tools for optimization (Taylor’s expansion) and Unconstrained optimization. Lecture 3: Concavity, convexity, quasi-concavity and economic applications. Lecture 4: Constrained Optimization I: Equality Constraints, Lagrange Theorem. Lecture 5: Constrained Optimization II: Inequality Constraints, Kuhn-Tucker Theorem. Lecture 6: Constrained Optimization III: The Maximum Value Function, Envelope Theorem, Implicit Function Theorem and Comparative Statics. Leonardo Felli (LSE, NAB.SZT) EC400 Part II, Math for Micro: Lecture 1 9 September 2010 2 / 27
Course Outline Lecture 1: Tools for optimization (Quadratic forms). Lecture 2: Tools for optimization (Taylor’s expansion) and Unconstrained optimization. Lecture 3: Concavity, convexity, quasi-concavity and economic applications. Lecture 4: Constrained Optimization I: Equality Constraints, Lagrange Theorem. Lecture 5: Constrained Optimization II: Inequality Constraints, Kuhn-Tucker Theorem. Lecture 6: Constrained Optimization III: The Maximum Value Function, Envelope Theorem, Implicit Function Theorem and Comparative Statics. Leonardo Felli (LSE, NAB.SZT) EC400 Part II, Math for Micro: Lecture 1 9 September 2010 2 / 27
Course Outline Lecture 1: Tools for optimization (Quadratic forms). Lecture 2: Tools for optimization (Taylor’s expansion) and Unconstrained optimization. Lecture 3: Concavity, convexity, quasi-concavity and economic applications. Lecture 4: Constrained Optimization I: Equality Constraints, Lagrange Theorem. Lecture 5: Constrained Optimization II: Inequality Constraints, Kuhn-Tucker Theorem. Lecture 6: Constrained Optimization III: The Maximum Value Function, Envelope Theorem, Implicit Function Theorem and Comparative Statics. Leonardo Felli (LSE, NAB.SZT) EC400 Part II, Math for Micro: Lecture 1 9 September 2010 2 / 27
Course Outline Lecture 1: Tools for optimization (Quadratic forms). Lecture 2: Tools for optimization (Taylor’s expansion) and Unconstrained optimization. Lecture 3: Concavity, convexity, quasi-concavity and economic applications. Lecture 4: Constrained Optimization I: Equality Constraints, Lagrange Theorem. Lecture 5: Constrained Optimization II: Inequality Constraints, Kuhn-Tucker Theorem. Lecture 6: Constrained Optimization III: The Maximum Value Function, Envelope Theorem, Implicit Function Theorem and Comparative Statics. Leonardo Felli (LSE, NAB.SZT) EC400 Part II, Math for Micro: Lecture 1 9 September 2010 2 / 27
Course Outline Lecture 1: Tools for optimization (Quadratic forms). Lecture 2: Tools for optimization (Taylor’s expansion) and Unconstrained optimization. Lecture 3: Concavity, convexity, quasi-concavity and economic applications. Lecture 4: Constrained Optimization I: Equality Constraints, Lagrange Theorem. Lecture 5: Constrained Optimization II: Inequality Constraints, Kuhn-Tucker Theorem. Lecture 6: Constrained Optimization III: The Maximum Value Function, Envelope Theorem, Implicit Function Theorem and Comparative Statics. Leonardo Felli (LSE, NAB.SZT) EC400 Part II, Math for Micro: Lecture 1 9 September 2010 2 / 27
Course Outline Lecture 1: Tools for optimization (Quadratic forms). Lecture 2: Tools for optimization (Taylor’s expansion) and Unconstrained optimization. Lecture 3: Concavity, convexity, quasi-concavity and economic applications. Lecture 4: Constrained Optimization I: Equality Constraints, Lagrange Theorem. Lecture 5: Constrained Optimization II: Inequality Constraints, Kuhn-Tucker Theorem. Lecture 6: Constrained Optimization III: The Maximum Value Function, Envelope Theorem, Implicit Function Theorem and Comparative Statics. Leonardo Felli (LSE, NAB.SZT) EC400 Part II, Math for Micro: Lecture 1 9 September 2010 2 / 27
Admin My coordinates: S.478, x7525, lfelli@econ.lse.ac.uk PA: Gill Wedlake, S.379, x6889, g.m.wedlake@lse.ac.uk Office Hours: Thursday 9 September — 10:00-12:00 a.m. Friday 10 September — 10:00-12:00 p.m. Monday 13 September — 10:00-12:00 a.m. Tuesday 14 September — 10:00-12:00 a.m. Wednesday 15 September — 10:00-12:00 a.m. Thursday 16 September — 10:00-12:00 a.m. Friday 17 September — 10:00-12:00 a.m. Wednesday 22 September — 10:00-12:00 a.m. or by appointment (e-mail lfelli@econ.lse.ac.uk). Course Material: available at: http://econ.lse.ac.uk/staff/lfelli/teaching and Moodle Leonardo Felli (LSE, NAB.SZT) EC400 Part II, Math for Micro: Lecture 1 9 September 2010 3 / 27
Admin My coordinates: S.478, x7525, lfelli@econ.lse.ac.uk PA: Gill Wedlake, S.379, x6889, g.m.wedlake@lse.ac.uk Office Hours: Thursday 9 September — 10:00-12:00 a.m. Friday 10 September — 10:00-12:00 p.m. Monday 13 September — 10:00-12:00 a.m. Tuesday 14 September — 10:00-12:00 a.m. Wednesday 15 September — 10:00-12:00 a.m. Thursday 16 September — 10:00-12:00 a.m. Friday 17 September — 10:00-12:00 a.m. Wednesday 22 September — 10:00-12:00 a.m. or by appointment (e-mail lfelli@econ.lse.ac.uk). Course Material: available at: http://econ.lse.ac.uk/staff/lfelli/teaching and Moodle Leonardo Felli (LSE, NAB.SZT) EC400 Part II, Math for Micro: Lecture 1 9 September 2010 3 / 27
Admin My coordinates: S.478, x7525, lfelli@econ.lse.ac.uk PA: Gill Wedlake, S.379, x6889, g.m.wedlake@lse.ac.uk Office Hours: Thursday 9 September — 10:00-12:00 a.m. Friday 10 September — 10:00-12:00 p.m. Monday 13 September — 10:00-12:00 a.m. Tuesday 14 September — 10:00-12:00 a.m. Wednesday 15 September — 10:00-12:00 a.m. Thursday 16 September — 10:00-12:00 a.m. Friday 17 September — 10:00-12:00 a.m. Wednesday 22 September — 10:00-12:00 a.m. or by appointment (e-mail lfelli@econ.lse.ac.uk). Course Material: available at: http://econ.lse.ac.uk/staff/lfelli/teaching and Moodle Leonardo Felli (LSE, NAB.SZT) EC400 Part II, Math for Micro: Lecture 1 9 September 2010 3 / 27
Admin My coordinates: S.478, x7525, lfelli@econ.lse.ac.uk PA: Gill Wedlake, S.379, x6889, g.m.wedlake@lse.ac.uk Office Hours: Thursday 9 September — 10:00-12:00 a.m. Friday 10 September — 10:00-12:00 p.m. Monday 13 September — 10:00-12:00 a.m. Tuesday 14 September — 10:00-12:00 a.m. Wednesday 15 September — 10:00-12:00 a.m. Thursday 16 September — 10:00-12:00 a.m. Friday 17 September — 10:00-12:00 a.m. Wednesday 22 September — 10:00-12:00 a.m. or by appointment (e-mail lfelli@econ.lse.ac.uk). Course Material: available at: http://econ.lse.ac.uk/staff/lfelli/teaching and Moodle Leonardo Felli (LSE, NAB.SZT) EC400 Part II, Math for Micro: Lecture 1 9 September 2010 3 / 27
Suggested Textbooks Knut Sydsaeter, Peter Hammond, Atle Seierstad and Arne Strom Further Mathematics for Economic Analysis . Alpha C. Chiang Fundamental Methods of Mathematical Economics . Carl P. Simon and Lawrence E. Blume Mathematics for Economists . Morton I. Kamien and Nancy L. Schwartz Dynamic Optimization: The Calculus of Variations and Optimal Control in Economics and Management . Akira Takayama Mathematical Economics . Leonardo Felli (LSE, NAB.SZT) EC400 Part II, Math for Micro: Lecture 1 9 September 2010 4 / 27
Suggested Textbooks Knut Sydsaeter, Peter Hammond, Atle Seierstad and Arne Strom Further Mathematics for Economic Analysis . Alpha C. Chiang Fundamental Methods of Mathematical Economics . Carl P. Simon and Lawrence E. Blume Mathematics for Economists . Morton I. Kamien and Nancy L. Schwartz Dynamic Optimization: The Calculus of Variations and Optimal Control in Economics and Management . Akira Takayama Mathematical Economics . Leonardo Felli (LSE, NAB.SZT) EC400 Part II, Math for Micro: Lecture 1 9 September 2010 4 / 27
Suggested Textbooks Knut Sydsaeter, Peter Hammond, Atle Seierstad and Arne Strom Further Mathematics for Economic Analysis . Alpha C. Chiang Fundamental Methods of Mathematical Economics . Carl P. Simon and Lawrence E. Blume Mathematics for Economists . Morton I. Kamien and Nancy L. Schwartz Dynamic Optimization: The Calculus of Variations and Optimal Control in Economics and Management . Akira Takayama Mathematical Economics . Leonardo Felli (LSE, NAB.SZT) EC400 Part II, Math for Micro: Lecture 1 9 September 2010 4 / 27
Suggested Textbooks Knut Sydsaeter, Peter Hammond, Atle Seierstad and Arne Strom Further Mathematics for Economic Analysis . Alpha C. Chiang Fundamental Methods of Mathematical Economics . Carl P. Simon and Lawrence E. Blume Mathematics for Economists . Morton I. Kamien and Nancy L. Schwartz Dynamic Optimization: The Calculus of Variations and Optimal Control in Economics and Management . Akira Takayama Mathematical Economics . Leonardo Felli (LSE, NAB.SZT) EC400 Part II, Math for Micro: Lecture 1 9 September 2010 4 / 27
Suggested Textbooks Knut Sydsaeter, Peter Hammond, Atle Seierstad and Arne Strom Further Mathematics for Economic Analysis . Alpha C. Chiang Fundamental Methods of Mathematical Economics . Carl P. Simon and Lawrence E. Blume Mathematics for Economists . Morton I. Kamien and Nancy L. Schwartz Dynamic Optimization: The Calculus of Variations and Optimal Control in Economics and Management . Akira Takayama Mathematical Economics . Leonardo Felli (LSE, NAB.SZT) EC400 Part II, Math for Micro: Lecture 1 9 September 2010 4 / 27
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