The course will give the students insight in central methods of optimization in mathematical analysis and in linear programming, and how these can be applied in economics.
Knowledge
The students
- Have knowledge of the main methods of optimization in mathematical analysis and in linear programming, together with the necessary background in linear algebra.
- Understand the role of convexity in problems of optimization.
- Understand the role of duality in linear programming.
Skills
The students
- Can set up, solve, and analyze models for static optimization with various constraints by use of Kuhn-Tucker's method.
- Can set up models for optimization with linear programming, and analyze these both theoretically and with computer tools.
- Can apply such models to different problems of relevance in economics
General competence
The students
- Have understanding of principles for mathematical formulation of economic models