2012-2013 Academic Catalog 
    
    Nov 21, 2024  
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2012-2013 Academic Catalog [ARCHIVED CATALOG]

ECON 302 - Microeconomics-Topics

Type of Course: lecture, discussion
This course is primarily concerned with topics associated with market failure:  imperfect competition, externalitites/public goods and information economics.  In our study of imperfect competition, we use game theory to build static and dynamic models of oligopoly.  We study the issues with the presence of externalities/public goods which undermines the Pareto optimality of market equilibrium.  The economics of information will address market failure due to asymmetric/imperfect information.  Topics covered include adverse selection, moral hazard and mechanism design.

Prerequisites: ECON 301 
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