In July,2016, Prof. Russell Cooper from Pennsylvania State University was invited to deliver a three-day lecture on "Dynamic Programming: Theory and Applications" at IESR. 

Program of "Dynamic Programming: Theory and Applications"

Day 1

Overview of Dynamic Programming 

• An asset pricing example

• Cake eating problem

• Extensions 

Day 2

Household Finance

 nondurable 

• consumption, saving and portfolio choice

• GMM estimation
  

• labor supply
  

 durables

• Euler equations

• car replacement

Day 3

Dynamic Factor Capital Demand

 capital

• Q theory

• lumpy investment

• aggregate implications

 labor

• Chinese plants