Dynamic Economics: Optimization by the Lagrange Method Contributor(s): Chow, Gregory C. (Author) |
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ISBN: 0195101928 ISBN-13: 9780195101928 Publisher: Oxford University Press, USA OUR PRICE: $218.50 Product Type: Hardcover - Other Formats Published: February 1997 Annotation: Dynamic Economics presents the optimization framework for dynamic economics so that readers can understand and use it for applied and theoretical research. Chow shows how the method of Lagrange multipliers is easier and more efficient for solving dynamic optimization problems than dynamic programming, and allows readers to understand the substance of dynamic economics more fully. He applies the Lagrange method to study and solve problems in a variety of areas including economic growth, general equilibrium theory, business cycles, dynamic games, finance, and investment, while also discussing numerical methods and analytical solutions. |
Additional Information |
BISAC Categories: - Business & Economics | Economics - Macroeconomics |
Dewey: 330.015 |
LCCN: 96025957 |
Lexile Measure: 1690 |
Physical Information: 0.85" H x 6.64" W x 9" (1.25 lbs) 248 pages |
Descriptions, Reviews, Etc. |
Publisher Description: This work provides a unified and simple treatment of dynamic economics using dynamic optimization as the main theme, and the method of Lagrange multipliers to solve dynamic economic problems. The author presents the optimization framework for dynamic economics in order that readers can understand the approach and use it as they see fit. Instead of using dynamic programming, the author chooses instead to use the method of Lagrange multipliers in the analysis of dynamic optimization because it is easier and more efficient than dynamic programming, and allows readers to understand the substance of dynamic economics better. The author treats a number of topics in economics, including economic growth, macroeconomics, microeconomics, finance and dynamic games. The book also teaches by examples, using concepts to solve simple problems; it then moves to general propositions. |