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Dear Class,
The lecture slides of the final lecture complementing today's blackboard are now up.
Please recall that the exam is
Time: November 21 at 9:00 AM (3 hours).
Place: Sal 3B Silurveien 2
If I do not see you before on Friday, best success!
Thanks for taking the class with Jon and myself,
Christian
Dear Class,
Please note that
- the lecture slides from yesterday are online. I did not merge several slides onto one page to avoid potential printing problems. You might want to consider doing it yourself though for printing (-;
- the lecture slides from the discounting lecture are up in the reception on floor 12 on the standing table (a colored version in uncommon slide order where slides go counter clockwise, and a black and white version in usual order, please pick one).
- the new problem set is up. Please try solving as much as you can for yourselves before next Wednesday. The last problem on there will be continued in lecture and is an introduction to non-convex systems (systems with feedbacks or "tipping points").
All the best,
Christian
I did a mistake when I though I had uploaded the answers. Sorry!
But now you find the answers under "Seminar Problems".
Dear Class,
The slides from today's lecture are now online.
Let me note again by email that I slightly revised tomorrow's problem set. The same (new) version I handed out in class is also available online. The revision is:
In problem 2 I dropped the constant extraction costs and I added some hints on how to solve the first part of the problem.
Best,
Christian
Answers to the problems taken up at seminar 4 (October 25) are now available under "Seminar Problems"
Dear Class,
Please note that next week's class will take place on Tuesday rather than Thursday (otherwise same time same place).
You find the problem set for next week Wednesday online, as well as today's lecture slides. Please try to work through problem set 5 as much as you can before the seminar.
All the best,
Christian
In the beginning of next week, I will publish some answers to the problems we discussed on seminar 4, o the home page.
There is a rather extensive problem set for the coming seminar, but they cover a lot of the problems we think are interesting. We'll see how far we get, but try to solve some of them for the seminar. You find the set under "Seminar Problems". Good luck!
I hope to have prepared the set ready for you tomorrow (Friday) (JV)
I have corrected for a missing brackets (4th line from below on page 6 in the one posted yesterday.
I have prepared a note "On Resource Extraction under Uncertainty" - under "Lecture Notes" - covering some of the topics to be taken up in class tomorrow (October 19), and perhaps relevant for the Problem Set next week. If you have time, you may look at the first section (pp. 1 - 7).
Dear Class,
Please give problem set 3 on Fishery Economics a shot before our seminar next week on Wednesday.
You find the problem set on our website.
Let me know in case you have questions.
Best,
Christian
You find the slides to the lecture on October 5, by F?rsund, under "Lecture Notes".
Under "Seminar Problems" you find the answer to Problem 2. This is an article, like an interview, with Robert Solow, which is very nice reading, with the appendix (p. 5 - 14) providing the answer to Problem 2 in Seminar Set 2.
You also find answers to Problem 1 under "Seminar problems" as well.
Under "Lecture Notes" you find Christian's slides "On Fisheries"
The problem set for the seminar on September 27, is now available under "Seminar problems".
Frida and Ole have been appointed class contacts. If any complaints, these can be addressed to one or both of them.
You find a set of possible answers to the Problem set 1 from the seminar September 13, under "Seminar Problems".
I have prepared a short Lecture Note 2 from the last lecture. (See under "Lecture Notes".)
Under a new heading "Seminar Problems", you find a problem set for the seminar September 13. We will go through these problems on the seminar.
You find a short summary of the main findings from the lecture today; lecture note 1 under "Lecture Notes".
Dear Students,
I just uploaded the chapter from my book with Larry Karp on the Maximum Principle. It is merely an alternative to Jon's Note "On Intertemporal Optimization and Dynamic Efficicency" or Michael Hoel's note on the same topic on the reading list. All three readings give you more of a background on the method of dynamic optimization that we are using.
If you would like to read up using the book chapter then let me summarize that:
- 1-14 covers the maximum principle as used in this class. You can skim over pages 6-8, which give a formal derivation of the maximum principle and instead be satisfied instead with the heuristic provided on page 5.
- 16-19 introduce you to the closely related Euler equation
- 19-23 introduce the concept of a phase portrait that we will discuss in the renewable resource lectures on fishery.
In this class we will not cover the more formal analysis starting in se...
I have prepared a note on necessary background for the coming lectures; see the note "On Intertemporal Optimization...." under Lecture Notes.
I recommend you to read through this note so that you are prepared for the analytical approach to the various topics.