The course lectures:
Time and place:
The course takes place on May 12th-20th at the Helsinki University of
Technology (room U356). The daily program includes lectures (9.15-12.00),
starting May 12, and exercises (12.45-14.15) on May 13, 15, 18 and 19.
Lectures are given by Professor
Vienna University of
Exercises are given by Mr. Gerald Karner, visiting HUT from the Vienna
University of Technology.
The course material will be delivered during the course.
1. Active participation in the lectures and exercises and passing the
examination gives 3 credit unit. |
2. Participation only gives 1 credit unit.
NOTE! This course can be used to replace the course Mat-2.148 Dynamic opimization in the HUT master's program (passing procedure 1).
Master's and doctoral students of the HUT and other universities. The
course is also open to all others interested in the subject.
1. Standard optimal control problem; intertemporal decision processes, examples |
2. A heuristic proof of the maximum principle; economic interpretation of the necessary optimality condition, sufficient conditions, infinite time horizon, free terminal time
3. Linear optimal control problem; most rapid approach paths, examples
4. Phase phase analysis of low-dimensional optimal control problems; existence, uniqueness and sensitivity of equilibria, multible equilibria, Skiba points
5. Path constraints; mixed path constraints, pure state constraints
6. Applications; optimal growth theory, environmental pollution, marketing (optimal advertising and pricing)
7. A case study: The economics of crime; corruption, optimal law enforcement, illicit drug control
Associate Prof. Harri Ehtamo, phone 4513058;
Mr. Gerald Karner;
Mr. Kai Virtanen.