Postgraduate Course: Numerical Methods in Economics (ECNM11080)

Course Outline
School	School of Economics	College	College of Arts, Humanities and Social Sciences
Credit level (Normal year taken)	SCQF Level 11 (Postgraduate)	Availability	Not available to visiting students
SCQF Credits	10	ECTS Credits	5
Summary	This course provides a five lectures introduction to numerical methods in economics, and in particular to its applications in macroeconomics. The course is intended for students that are economically mature (with at the least a Master¿s degree), but computationally inexperienced (although a superficial familiarity with Matlab is required). The course is targeted to users of numerical methods rather than developers of such methods. As a consequence, a strong emphasis will be put on ¿what works¿ with relatively little theoretical justifications.
Course description	The lectures will cover the following topics: i) an introduction to dynamic programming; ii) functional approximation and nonlinear equations, iii) solving nonlinear rational expectations models, iv) incomplete markets models, v) continuous time models and methods.

Entry Requirements (not applicable to Visiting Students)
Pre-requisites		Co-requisites
Prohibited Combinations		Other requirements	None

Course Delivery Information
Not being delivered

Learning Outcomes
solve numerically, using MATLAB, for the equilibria of some classic models in macroeconomics (e.g. the Ramsey growth model, the Aiyagari model, as well as the Diamond-Mortensen-Pissarides model).