Dynamic Optimization Part 1: Preliminaries

This is a crash course in dynamic optimization for economists consisting of three parts. Part 1 discusses the preliminaries such as basic definitions and notational conventions and an introduction to difference equations and differential equations. Part 2 introduces dynamic optimization in discrete time, first motivated by a standard Lagrangian approach and then moving on to the approach of Hamilton-Jacobi-Bellman. Finally, part 3 introduces dynamic optimization in continuous time by means of Pontryagin's maximum principle. For part 2, please see    • Dynamic Optimization Part 2: Discrete Time   For the full playlist on Optimization for Economists, please see    • Optimization for Economists   For applications of dynamic optimization in macroeconomics, please see    • Advanced Macroeconomics   You can find our book on Mathematical Optimization and Economic Analysis here: https://link.springer.com/book/10.100... #optimization #dynamics #macroeconomics #economicgrowth