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PHI Learning

Helping Teachers to Teach and Students to Learn

Helping Teachers to Teach and Students to Learn

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PHI Learning

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Pages : 528

Print Book ISBN : 9788120339347
Binding : Paperback
Print Book Status : Out of Stock
Print Book Price : 495.00  371.25
You Save : (123.75)


This book presents a variety of computational methods used to solve dynamic problems in economics and finance. It emphasizes practical numerical methods rather than mathematical proofs and focuses on techniques that apply directly to economic analyses. The examples are drawn from a wide range of subspecialties of economics and finance, with particular emphasis on problems in agricultural and resource economics, macroeconomics, and finance.

The book is divided into two parts. The first part develops basic numerical methods, including linear and nonlinear equation methods, complementarity methods, finite-dimensional optimization, numerical integration and differentiation, and function approximation. The second part presents methods for solving dynamic stochastic models in economics and finance, including dynamic programming, rational expectations, and arbitrage pricing models in discrete and continuous time. The book uses MATLAB to illustrate the algorithms and includes a utilities toolbox to help readers develop their own computational economics applications.

“One of this book’s many strengths is its structure, the way theory-based chapters alternate with analytical ones. This will make it an invaluable resource in the classroom.”

—THOMAS J. SARGENT, Department of Economics, New York University, and Hoover Institution, Stanford University

“This book ties together numerical methods with state-of-the-art mathematical tools in a user-friendly way. It should be part of the program in ‘math camps’ for incoming graduate students in economics and finance. The MATLAB programs are a very useful resource for anyone doing applied research.”

—PAUL D. MCNELIS, Professor of Economics, Georgetown University

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