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@@ -4,52 +4,20 @@ Continuous Time Markov Chains
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**Authors**: [Thomas J. Sargent](http://www.tomsargent.com/) and [John
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Stachurski](https://johnstachurski.net/)
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This lecture series provides a short introduction to the field of continuous
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time Markov chains. Focus is shared between theory, applications and
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computation. Mathematical ideas are combined with computer code to help
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clarify and build intuition, as well as to bridge the gap between theory and
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applications.
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These lectures provides a short introduction to continuous time Markov chains.
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Mathematical ideas are combined with computer code to build intuition and
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bridge the gap between theory and applications. There are many solved
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exercises.
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The presentation is relatively rigorous but the aim is towards applications
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rather than mathematical curiosities (which are plentiful, if one starts to
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look). Applications are drawn from economics, finance and operations
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research.
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The presentation is rigorous but aims toward applications rather than
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mathematical curiosities (which are plentiful, if one starts to look).
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Applications are drawn from economics, finance and operations research. I
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assume readers have some knowledge of [discrete time Markov
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chains](https://python.quantecon.org/finite_markov.html). Later lectures, use
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a small amount of analysis in Banach space.
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Code is written in Python and accelerated using
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JIT compilation via [Numba](http://numba.pydata.org/). QuantEcon provides an
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[introduction to these topics](https://python-programming.quantecon.org/).
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```{admonition} Solved exercises
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There are many solved exercises and we recommend readers attempt all of them,
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or at least review the solutions.
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```
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```{admonition} Computer code
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The code is written in Python and is accelerated through a combination of
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[NumPy](https://numpy.org/) (vectorized code) and just-in-time compilation
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(via [Numba](http://numba.pydata.org/)).
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QuantEcon provides a fast-paced [introduction to scientific computing with Python](https://python-programming.quantecon.org/) that covers these topics.
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```
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```{admonition} Background: Markov chains in discrete time
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The lectures are well suited to those who have some knowledge of discrete time
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Markov chains and wish to learn more about their continuous time cousins. A
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suitable preliminary discussion of discrete time Markov chains can be found
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