This is an in-depth exploration of dynamic optimization in economics, written by the author of the best-selling "Fundamental Methods Of Mathematical Economics". It can be used in sequence with "Fundamental Methods", or independently, at the advanced undergraduate or a beginning graduate level. It is written at the same analytical level, with the same care, as the other Chiang text.
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"This book is immensely valuable, especially for students coming to this material for the first time. Professor Chiang has a singular talent for clear exposition of complex mathematical concepts. This text is simply the best introduction to dynamic optimization I have ever seen." -- John McDermott, University of South Carolina
"Chiang has done it again." -- Henry Thompson, Auburn University
"A brilliant, highly readable book. Bringing together tractable dynamics and a rich array of applications, it covers in depth some major analytical developments in dynamic macroeconomics. Dynamic macroeconomics in the 1990s was about introducing various kinds of market imperfections and heterogeneity in the models available before. This book teaches, in a comprehensive and understandable way, how to use and formulate these models. Chiang makes it insightful and natural for the reader, using the tools he has laid out, to go on to attack substantive and original research in dynamic macroeconomics. Invaluable for teachers and students alike." -- Zuhair Al-Fakhouri, Wayne State University
"This is the most understandable text I have come across on topics of optimization. The author discusses the formal elements of problems in an informal way to facilitate an easy grasp of the crucial points. I have learned and re-learned control theory from this book better than any other text." -- Abdul Qayum, Portland State UniversityReview:
Chiang's book has filled a void in that it is the most accessible and succinct treatment of dynamic optimization in continuous time to date. --Vic Valcarcel, Texas Tech University
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Book Description McGraw Hill Higher Education, 1992. Paperback. Book Condition: New. Bookseller Inventory # DADAX007112568X