ECON4830 – Economics dynamics and Uncertainty

Schedule, syllabus and examination date

Course content

The class on Economic Dynamics and Uncertainty trains the student in dynamic economic thinking, intertemporal trade-offs, optimal and behavioral aspects of choice, and responses to uncertainty and learning. It draws from a variety of economic fields such as macroeconomics, asset pricing, behavioral economics, climate change economics, decision theory, and more. The overarching theme is the exploration, interpretation, and understanding of dynamic trade-offs in economic reasoning. Methodologically, the class starts with basic reasoning in two period models and moves on to dynamic programming in discrete and continuous time. The class applies similar methods and trade-offs to different economic settings in order to train the student in the application of concepts and methods outside of a narrow field or topical focus. The class pays particular attention to the fact that the future is uncertain. It explores implications of risk aversion, prudence, and Bayesian learning for decision making and economic dynamics. The seminars will make occasional use of Matlab. Students can use alternative programming language like Python or Julia if they do not require support.

Learning outcome

Knowledge:

You should understand

  • intertemporal trade-offs
  • the interactive dynamics of marginal valuation and good provision
  • how uncertainty affects dynamics and optimal decisions
  • Dynamic implications of learning and behavioral responses
  • Dynamic implications of policies and implications of dynamics for policy

Skills:

You should be able to

  • set up dynamic economic models
  • use dynamic programming to evaluate intertemporal trade-offs
  • interpret intertemporal optimality conditions

Competence:

You should

  • obtain experience in thinking dynamically
  • be able to read and understand reports and journal articles that make use of the concepts and methods introduced in this course

Admission to the course

Students admitted to study programmes at UiO must each semester register which courses and exams they wish to sign up for in Studentweb.

Students not admitted to the Master’s programme in Economics or the Master’s programme in Economic Theory and Econometrics (Samfunnsøkonomisk analyse), can apply for admission to one of our study programmes, or apply for guest student status.

Formal prerequisite knowledge

You must fulfill one of these prerequisites:

Teaching

Lectures and seminars.

The course responsible can at the beginning of the semester update the syllabus list by changing no more than three articles, though in a way that it will not change the overall scope or thematic content of the course.

The syllabus also includes any lecture notes that will be made available for the students in Canvas.

Examination

A 3-hour written school exam.

Previous exams

Exam papers with comments from examiner

Examination support material

Usage of a dictionary during the examination is allowed, subject to prior inspection by SV-info. See guidelines for further details.

Language of examination

The examination text is given in English, and you submit your response in English.

Grading scale

Grades are awarded on a scale from A to F, where A is the best grade and F is a fail. Read more about the grading system.

Resit an examination

If you are sick or have another valid reason for not attending the regular exam, we offer a postponed exam later in the same semester.

See also our information about resitting an exam.

More about examinations at UiO

You will find further guides and resources at the web page on examinations at UiO.

Last updated from FS (Felles studentsystem) Oct. 15, 2026 5:58:42 AM

Facts about this course

Level
Master
Credits
10
Teaching
Autumn

The course is last held autumn 2024

Examination
Autumn .

Examination is last held autumn 2024

Teaching language
English

Contact

Department of Economics