×
Push yourself because, no one else is going to do it for you.
--Your friends at LectureNotes
Close

Note for Optimization in Engineering - OE by Bou Fa

  • Optimization in Engineering - OE
  • Note
  • Electrical Engineering
  • B.Tech
  • 7 Topics
  • 27 Views
  • Uploaded 1 year ago
Bou Fa
Bou Fa
0 User(s)
Download PDFOrder Printed Copy

Share it with your friends

Leave your Comments

Text from page-1

EC422 Mathematical Economics 2 Chaiyuth Punyasavatsut Chaiyuth Punyasavatust 1

Text from page-2

Course materials and evaluation • Texts: Dixit, A.K ; Sydsaeter et al. • Grading: 40,30,30. OK or not. • Resources: ftp://econ.tu.ac.th/class/archan/C HAIYUTH/ Chaiyuth Punyasavatust 2

Text from page-3

Objectives • Dynamic economics is about explaining economic behaviors through time. • Explain the time paths of economic variables. • Optimization concept. • The choice is the use of resources in different time periods. • Maximizing a multiperiod objective function of variables in many periods, subject to budget or resource constraints on these variables through time. Chaiyuth Punyasavatust 3

Text from page-4

Objectives • Find optimal time path for every choice variable. • Three major approaches: Calculation of variation, maximum principle or optimal control theory (Hamiltonian), and dynamic programming (Bellman equation). • And also method of Lagrange Chaiyuth Punyasavatust 4

Lecture Notes