14.04 | Fall 2020 | Undergraduate

Intermediate Microeconomic Theory

Lecture 6: Dynamics and Programming

English villagers were able to store their harvest in inventory. Yet, despite facing starvation from future crop failure, they rarely stored enough to get beyond the following year. Dynamic economic models of decision-making, calibrating parameters from historical data, resolve the puzzle. The power of dynamic programming is revealed, along with some additional useful tools.

Course Info

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As Taught In
Fall 2020
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Exams with Solutions
Lecture Videos
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