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Lecture Notes on The Optimal Growth Problem

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Author Info
Keister, Todd

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Abstract

These notes provide an introduction to the study of optimal growth in the one-sector neoclassical growth model in continuous time. The model is developed using the analogy of Robinson Crusoe living on a deserted island. Both the Hamiltonian method and the phase diagram are presented and explained on an intuitive level. Some familiarity with optimization theory and differential equations, as well as a thorough understanding of intermediatelevel microeconomics, is assumed.

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File URL: http://mpra.ub.uni-muenchen.de/1461/
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Publisher Info
Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 1461.

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Date of creation: Jan 2005
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Handle: RePEc:pra:mprapa:1461

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Related research
Keywords: Optimal Growth

Find related papers by JEL classification:
O40 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General

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This page was last updated on 2008-11-17.

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