AREC 620

Prerequisites: Differential calculus and one course in matrix or linear algebra. Three hours of lecture and 1½ hours of discussion per week. Mathematical theory of optimization as it is used in agricultural and resource economics. Topics include necessary and sufficient conditions for nonlinear programming and related Kuhn-Tucker and saddle point theory, convexity and concavity, existence and uniqueness, duality and the envelope theorem, the discrete maximum principle, and control theory and dynamic optimization.