by Prof. Dr. Bengt-Arne Wickström

The course begins with a short introduction to optimization and optimization techniques over time. These techniques are then applied to the problem of the optimal extraction of finite resources, with and without different types of extraction costs (optimal consumption of a cake) as well as the optimal use of a renewable natural resource (e. g. environmental or fishery management). In the latter case, special attention will be given to steady-state solutions.