Optimal Control for Dummies

The aim of this study is to facilitate the teaching of optimal control in economics. Understanding optimal control can be challenging to say the least. This study discusses optimal control and its applications in economics. More specifically the famous Keynesian-Ramsey rule will be explored and discussed in detail. The same rule is also extensively used in resource economics to calculate the optimal extraction from for example a gold mine.

並列關鍵字

Dynamic optimization ； growth ； macro economics ； optimal control

國際替代計量

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