The author introduces some basic dynamic programming techniques, using examples, with the help of the computer algebra system Maple. The emphasis is on building confidence and intuition for the solution of dynamic problems in economics. To integrate the material better, the same examples are used to introduce different techniques. One covers the optimal extraction of a natural resource, another uses consumer utility maximization, and the final example solves a simple real business cycle model. Every example is accompanied by Maple computer code to allow for replication.
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Find related papers by JEL classification: C61 - Mathematical and Quantitative Methods - - Mathematical Methods and Programming - - - Optimization Techniques; Programming Models; Dynamic Analysis A23 - General Economics and Teaching - - Economic Education and Teaching of Economics - - - Graduate
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