Microeconomics III
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Course Description
Social Choice, including Arrow's theorem, the Gibbard-Satterthwaite theorem, and the Vickrey-Clarke-Groves mechanism. The theory of contracts, emphasizing contractual incompleteness and the problem of moral hazard. Incentive regulation. Competition with imperfect information, including signaling and adverse selection. Competitive equilibrium and the core. Limited enrollment. Non-Econ students need permission of instructor to enroll. Prerequisite: ECON 202 and 203.
Grading Basis
ROP - Letter or Credit/No Credit
Min
3
Max
5
Course Repeatable for Degree Credit?
No
Course Component
Discussion
Enrollment Optional?
Yes
Course Component
Lecture
Enrollment Optional?
No
Courses
ECON204 is a prerequisite for:
Programs
ECON204 is a completion requirement for:
- (from the following course set: )