ECON4140 – Mathematics 3: Differential Equations, Static and Dynamic Optimization
Course description
Schedule, syllabus and examination date
Course content
- eigenvalues and eigenvectors
- concave and quasi-concave functions
- nonlinear programming
- difference equations and differential equations
- optimal control theory
Learning outcome
Knowledge
You should know
- linear algebra (linear independence, rank, eigenvalues, quadratic forms)
- calculus and static optimization (concavity, quasi-concavity, nonlinear programming)
- difference equations and (linear and nonlinear) differential equation systems
- continuous-time dynamic optimization (by calculus of variations and the maximum principle for optimal control theory)
Skills
You should be able to
- use problem-solving skills to a greater extent than ECON3120 / ECON4120
- apply new theory and problem-solving techniques for static and dynamic optimization
- understand at a deeper level why the techniques from ECON3120/ ECON4120 work, and understand at an intuitive level why the new techniques of ECON4140 work
Competence
This course should enable you to
- read and understand the notation and analyses of a wide class of models in the scientific literature, including foundational topics in microeconomics
- formulate and formalize a wider range of models than what is covered in ECON3120/4120
- analyze such models in your own academic work, for example in analyses that are part of the master’s thesis
Admission to the course
Students admitted to study programmes at UiO must each semester register which courses and exams they wish to sign up for in Studentweb.
Students not admitted to the Master’s programme in Economics or the Master’s programme in Economic Theory and Econometrics (Samfunns?konomisk analyse), can apply for admission to one of our study programmes, or apply for guest student status.
Formal prerequisite knowledge
You must fulfill one of these prerequisites:
- Bachelor`s degree in Economics, or equivalent.
- ECON3120 – Mathematics 2: Calculus and Linear Algebra / ECON4120 – Mathematics 2: Calculus and Linear Algebra, or equivalent.
Recommended previous knowledge
- Students who do not have ECON3120 – Mathematics 2: Calculus and Linear Algebra / ECON4120 – Mathematics 2: Calculus and Linear Algebra, or equivalent are advised not to take this course.
Overlapping courses
- 10 credits overlap with ECON4145.
- 10 credits overlap with S?K450.
- 10 credits overlap with SO?450.
- 7.5 credits overlap with ECON301A.
- 6 credits overlap with MAT2310 – Optimal control theory (discontinued).
- 6 credits overlap with MAT2440 – Differential equations and optimal control theory (continued).
Teaching
Lectures and seminars.
At the start of the semester, the course reponsible can update the syllabus list by replacing up to 3 articles, without the scope and thematic content of the syllabus changing significantly.
The syllabus also includes any lecture notes that are made available during the semester.
Examination
A 4-hour written school exam.
Previous exams and examiner guidelines
Exam papers with comments from examiner
Examination support material
Resources allowed: Open book examination, where all printed and written resources are allowed. There is a digital scientific calculator available in Inspera.
Please note:?You are not allowed to bring your own calculator. We strongly advise you to familiarize yourself with the digital calculator here: https://www.desmos.com/scientific
Language of examination
The examination text is given in English. You may submit your response in Norwegian, Swedish, Danish or English.
Grading scale
Grades are awarded on a scale from A to F, where A is the best grade and F is a fail. Read more about the grading system.
Resit an examination
If you are sick or have another valid reason for not attending the regular exam, we offer a postponed exam later in the same semester.
See also our information about resitting an exam.
More about examinations at UiO
- Use of sources and citations
- Special exam arrangements due to individual needs
- Withdrawal from an exam
- Illness at exams / postponed exams
- Explanation of grades and appeals
- Resitting an exam
- Cheating/attempted cheating
You will find further guides and resources at the web page on examinations at UiO.