ACIT4810 Advanced Methods in Modelling, Simulation, and Control Course description

International Economics as a subject is concerned with effects of economic relations among nations. This is particularly relevant for small open economies like Norway. The first part of the course covers international trade theory. Why do nations trade, and what effects does this have on the domestic economy. Next, trade policy is analyzed. Why do some nations want to restrict the volume of trade, and what economic effects does this have on domestic efficiency and income distribution. Finally, the course will cover open economy macroeconomics, in particular stabilization policies under different exchange rate regimes.

Language of instruction is English.

Ivar Bredesen

None

Upon successful completion of the course, the student:

Knowledge

Upon successful completion of the course, the student should have:

• advanced knowledge in dynamic modeling for industrial applications
• knowledge on how to evaluate suitability of different model structures and choose appropriate model for chosen industrial application
• knowledge in state estimation techniques for linear systems
• advanced knowledge in control strategy development
• knowledge on how to evaluate different model-based control algorithms for multivariate systems
• knowledge on how to select and argue for suitable combination of model-based control algorithms for a chosen industrial application.

Skills

Upon successful completion of the course, the student can:

• apply systematic approach to develop nonlinear and linear dynamic models for chosen industrial application.
• apply data-driven modelling methods to obtain dynamic models for a chosen industrial application.
• implement, test, compare and validate nonlinear and linear dynamic models in simulation environment.
• implement, test and validate linear techniques for state estimation in simulation environment
• implement, test, compare and validate model-based control algorithms for multivariate systems in simulation environment.

General competence

Upon successful completion of the course, the student can:

• develop, implement, test and validate control strategies for multivariate system using different model-based control and estimation methods.

After completing the course, the student should have the following overall learning outcomes defined in terms of knowledge, skills and general competence:

Knowledge

The student

• can describe the development of trade theory over time, from Smith/Ricardo, via Heckscher-Ohlin to modern trade theory based on imperfect competition
• knows how international trade affects economic growth and resource allocation domestically and internationally
• knows how international trade affects distribution of income
• knows which instruments are used in international trade policy and how these affect welfare
• is familiar with relevant models of economic integration
• is familiar with theories of exchange rate determination
• is familiar with stabilization policies in open economies under various exchange rate regimes

Skills

The student can

• show welfare effects of international trade graphically
• use algebra to derive changes in distribution of income following international trade
• show the effects of trade policy instruments graphically
• use models to describe effects of stabilization policies

Competence

The student can

• reflect critically about current topics in international economic relations

The following coursework must be approved before the student can take the exam:

Four assignments in groups of 1-3 students (1000 - 2000 words per assignment)

About 50 hours of teaching and exercises.

No coursework requirements or compulsory activities.

The following aids are permitted:

• Calculator (see regulations for the use of calculators in the programme description)
• One language dictionary (native language-English/English-native language or English-English)

Grade scale A - F

The exam papers are assessed by one internal and one external examiner.

At least 25% of the exam papers will be assessed by two examiners. The grades awarded for the papers assessed by two examiners form the basis for determining the level for all the exam papers.