Economic Dynamics University of Tsukuba
Understanding the difference between static and dynamic analysis in economics. After reviewing the definitions of the basic dynamic mathematics of differential and difference equations, acquire ability to apply the ideas to economic models. Understand how information effects enter into models of market stability, economic growth, dynamic games, natural resources and so on. Based on understanding of the basic notions of time, process, stock, and flow, acquire skill in applying them to everyday discussions.
Application of mathematical analysis to economic issues Understanding the relation of dynamic economic to social progress
The mathematical treatment is self-contained, requiring high school algebra. Completing lectures in differential calculus and microeconomics is recommended.
Weekly submission of homeworks (20%), a midterm report (30%), and a final report (50%). Work should be submitted in English, but with advance permission from the instructor, Japanese may also be allowed, depending on the size of the class and personal situation.
Course materials and lectures are primarily in English. However, questions may be asked and answered in Japanese. With prior permission, homework and reports may be submitted in Japanese.(Period 1) Pandemic! Building a dynamic model, step by step (Period 2) Basic concepts: Time, process, stock, flow; equilibrium, steady state, stability, persistence, irreversibilityDifferential equation basic concepts: Phase diagram, Bellman equation, difference equation, iterated functionEconomic growth theory: Classical models of Malthus and Marx and the neoclassical Solow modelEconomic growth theory extensions: 2-sector model, human capital, technological progress Economic growth theory in empirical researchCapital asset pricing: Uncertainty, arbitrage, and bubblesTheory of natural resources: Pure exhaustible resources and renewable resourcesTheory of natural resources: Recycling, self-renewing, and sustainabilityGame theory: Time, uncertainty, and informationIntellectual property and dynamicsInformation flows on social networks: Flamewars, radicalization, and cascades
Online Course Requirement
Turnbull Stephen John
Students who have interest in social institutions and processes, who wish to connect history to the future, are very welcome.
Site for Inquiry
Link to the syllabus provided by the university