Postgraduate Course: Numerical Methods in Economics (ECNM11080)
Course Outline
| School | School of Economics |
College | College of Arts, Humanities and Social Sciences |
| Credit level (Normal year taken) | SCQF Level 11 (Postgraduate) |
Availability | Not available to visiting students |
| SCQF Credits | 10 |
ECTS Credits | 5 |
| Summary | This course provides a five lectures introduction to numerical methods in economics, and in particular to its applications in macroeconomics. The course is intended for students that are economically mature (with at the least a Master¿s degree), but computationally inexperienced (although a superficial familiarity with Matlab is required). The course is targeted to users of numerical methods rather than developers of such methods. As a consequence, a strong emphasis will be put on ¿what works¿ with relatively little theoretical justifications. |
| Course description |
The lectures will cover the following topics: i) an introduction to dynamic programming; ii) functional approximation and nonlinear equations, iii) solving nonlinear rational expectations models, iv) incomplete markets models, v) continuous time models and methods.
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Entry Requirements (not applicable to Visiting Students)
| Pre-requisites |
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Co-requisites | |
| Prohibited Combinations | |
Other requirements | None |
Course Delivery Information
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| Academic year 2020/21, Not available to visiting students (SS1)
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Quota: 3 |
| Course Start |
Semester 2 |
Timetable |
Timetable |
| Learning and Teaching activities (Further Info) |
Total Hours:
100
(
Lecture Hours 15,
Seminar/Tutorial Hours 15,
Programme Level Learning and Teaching Hours 2,
Directed Learning and Independent Learning Hours
68 )
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| Assessment (Further Info) |
Written Exam
0 %,
Coursework
100 %,
Practical Exam
0 %
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| Additional Information (Assessment) |
Coursework 100% |
| Feedback |
Not entered |
| No Exam Information |
Learning Outcomes
| solve numerically, using MATLAB, for the equilibria of some classic models in macroeconomics (e.g. the Ramsey growth model, the Aiyagari model, as well as the Diamond-Mortensen-Pissarides model).
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Additional Information
| Graduate Attributes and Skills |
Not entered |
| Keywords | Not entered |
Contacts
| Course organiser | Prof Andy Snell
Tel: (0131 6)50 3848
Email: a.j.snell@ed.ac.uk |
Course secretary | Ms Kalina Charvala
Tel: (0131 6)51 1795
Email: Kalina.Charvala@ed.ac.uk |
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