Wälde, Klaus: Applied Intertemporal Optimization


This book has been a top download at repec ever since it became available in March 2009. It has always been either the #1 download (current month and 3 months) or it was among the top 3 downloads. In 2017 it became the most downloaded textbook ever. As downloads of students in my classes do not count (they have direct access to the pdf-file without being redirected to repec), I strongly hope that this is a good indicator of quality 🙂

The book can be used for teaching in third year Bachelor classes and in Master and PhD classes. PhD courses would typically focus on part III and IV. In Mainz, there is a third year Bachelor course which teaches mainly the deterministic parts I and II of this book. In the joint PhD Programme of the Universities of Darmstadt, Frankfurt and Mainz, a selection from parts I to IV with an emphasis on parts III and IV had been taught in the first year in the compulsory course "mathematical methods, part 2" for many years. Now it is used as a background for the 1st year macroeconomics course. The book can be downloaded freely by clicking on the download button above.

Update: Edition 1.2 plus: Textbook and Solutions Manual now (2020) available as free download

Revising this textbook including the solutions manual would be fantastic and there is still a lot of demand. Unfortunately, revising and publishing with a real publishing company takes too much time given other demands in life. The textbook is therefore now freely available including the solutions manual. Please download as always using the link on top of this page.

Edition 1.2 plus: Textbook and Solutions Manual now (2018) available as kindle edition

[Update 2020] This textbook including the solutions manual is now no longer available as a kindle edition. The book can no longer be read on a normal PC/laptop with the kindle app for PC and Mac. The software allows to mark sections and also to add notes.