The Ramsey-Cass-Koopmans Model Part 1: Derivation

This is part 1 of the discussion of the Ramsey-Cass-Koopmans model, one of the core models of dynamic macroeconomics.

For part 2, please see

I also describe the Ramsey-Cass-Koopmans model in chapter 5 of Prettner and Bloom (2020). Automation and Its Macroeconomic Consequences. Theory, Evidence, and Social Impacts.

For more macroeconomic models, please see

[KlausPrettner]

This is part 1 of the Ramsey-Cass-Koopmans model and deals with its set up and all derivations. Part 2 covers the analysis of the phase diagram and can be found here:

For more macroeconomic models, please see

[ferhanarslan]

Many points that I have not been able to understand for have been clarified by this video. Thank you so much :))

[xuyingze]

Thanks a lot! Is this course PhD level or near PhD level?

[subhampaul]

Sir
You are the best
Take love and respect
IGNOU(school of Managment )

[lonemaven]

Can you please explain the difference between theta (θ) and rho (ρ)? If θ represents willingness to smooth consumption and ρ is the degree of impatience, the higher both parameters are, the larger the extent to which the household will consume more in the present (and will save less). The lower both parameters are, the lower consumption (and higher saving) will be in the present. I don't see the difference? I guess the question is: what's the difference between "willingness to smooth consumption" and "degree of impatience"?

[UmeshRR]

Thank you professor for uploading this video.

[kamphuisopul]

Would you do a lecture on the vintage capital theory as well? That would be helpful

[haden]

Sir, what is the importance of CRRA in the RCK model?
Thank you so much for the lecture.

[YashSingh-fykt]

THANK YOU SO MUCH SIR
BRILLIANT LECTURE 🥳

[thabsor]

thank you very much, verry well explained

[rohanarora]

When we take the partial of F(K, AL) with respect to L then shouldn't it be AF'(K, AL)?