Centre for Development Economics
and
Department of Economics, Delhi School of Economics

ANNOUNCE  LECTURE SERIES

General Equilibrium and Growth

by

Prof. Rodney Smith
University of Minnesota

On

11th January 2019 (Friday) at
3:05 pm to 4:15 pm

And

14th January 2019 (Monday) at
11:40 am to 12:50 pm
1:30 pm to 2:40 pm

Venue: Seminar Room (First Floor)
Department of Economics, Delhi School of Economics

All are cordially invited

Lecture Outline

Lecture 1 (Friday, January 11, 2019 3:05-4:15 pm )

1.       Households and firms in simulations (see Handout 1)

a.      Profit, revenue and cost functions

b.      Implications of constant returns to scale in consumption and production – homothetic preferences and technologies

2.      Mathematica (see Handout 2)

Lecture 2 (Monday January 14, 2019 11:40-12:50pm)

1.     National account data and calibration (see Handout 3)

2.    Two and three-sector general equilibrium models (see Three Sector handout)

3.    Mathematica and the static three sector model

Lecture 3 (Monday January 14, 2019 1:50-3:00 pm)

1.       Dynamic general equilibrium models (see Handout 9)

2.      Mathematica and the dynamic three sector model

 

Readings

Terry L. Roe, Rodney B.W. Smith and D. Sirin Saracoglu (2010). Multisector Growth Models: Theory and Application, Springer.

 Smith, R. B., Nelson, H., & Roe, T. L. (2015). Groundwater and Economic Dynamics, Shadow Rents and Shadow Prices: The Punjab. Water Economics and Policy1(03), 1550014.

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