Reference no: EM13699515
Message : I need full answers for these 10 exam questions:
1. Input-output model: main assumptions and construction. Definition of productivity. Necessary condition of productivity of input-output model (proof). Inverse matrix (E-A)-1 in input-output model. How it is calculated by infinite series of Ak and what does it mean? Profitability of a model and what is the meaning of rows and columns of matrix (E-A)-1?
2. Solution of difference equations of the second order. Homogenous and non-homogenous case (proof of relevant formula).
3. Samuelson's model of economic growth. Corresponding difference equation. Analysis of the model. Proof of convergence. Diagram for different pairs of ? (accelerator) and ? (propensity to consume).
4. R.Solow growth model in discrete time. Correspond ing difference equation. Existence of steady state. Convergence to steady state.
5. Problem of optimization. Classic approach. Necessary and sufficient conditions of minimum (maximum) in one - dimensional, n - dimensional constrained and non-constrained optimization cases. Application of the bordered Hessian.
6. Diamond-Samuelson overlapping generations model. Formulation, analysis and steady state.
7. Non-classic problem of optimization (problem of mathematical programming). Local and global minima. Convex set. Convex and concave function: definition and necessary and sufficient conditions of convexity. Necessary and sufficient condition of optimal solution of convex optimization problem. Cases when a set of feasible solutions is Rn , Rn+
8. Non-classic problem of optimization. Necessary and sufficient condition of optimal solution of convex optimization problem when a set of feasible solutions is defined by constraints g(x)?b. Lagrangian function, saddle p oint as sufficient condition of optimal solution (proof). Kuhn-Tucker theorem. Interpretation of dual variables.
9. Optimal control theory: the main problem in discrete time . R. Bellman's principle of optimality. Recursive function.
10. McCall's intertemporal job search model. Reservation wage.
Is it possible and how much does it cost?
Literature
K.Wainwright, A.S.Chiang. Fundamental Methods of Mathematical Economics.
D. Romer. Advanced Macroeconomics.
L.Ljungqvist, T.J.Sargent. Recursive Macroeconomic Theory.
R.Bellman. Dynamic programming.
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