Differential Equations |

If you are interesting in modeling dynamic processes without randomness, there are two ways to go: continuous time or discrete time. Which approach is more useful or tractable depends upon the problem at hand. Methods for differential equations solve equations describing dynamic processes in continous time. Familiarity with them is essential for the study of optimal control. In this module, we will cover the basic types of differential equations that you are most likely to come across, heuristic solution techniques and methods to analyze stability. |

The problem set for this section can be found here
(parts of this problem set will be due at different dates TBA in class). |

Methodological Texts |

Leduc, Steven A. (1995): "Differential Equations." Cliffs Quick Review. Lincoln, NE: Cliffs Notes, Inc. ($9.95 at Amazon). |

Applications in Articles |

Mankiw, N. Gregory, David Romer, and David N. Weil (1992):
"A contribution to the empirics of economic growth."
Quarterly
Journal of Economics, 107(2):407-437. |

Lucas, Robert E., Jr. (1993): "Making
a miracle." Econometrica, 61(2):251-272. |

Krugman, Paul (1991): "History
versus expectations." Quarterly Journal of Economics, 106(2):651-667. |

Kremer, Michael, and Charles Morcom (2000): "Elephants."
American
Economic Review, 90(1):212-34. |