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ECON 251
Price and Allocation Theory Spring 2020 (also offered Fall 2019)
Division II Quantative/Formal Reasoning

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A study of the determination of relative prices and their importance in shaping the allocation of resources and the distribution of income. Subjects include: behavior of households in a variety of settings, such as buying goods and services, saving, and labor supply; behavior of firms in various kinds of markets; results of competitive and noncompetitive markets in goods, labor, land, and capital; market failure; government policies as sources of and responses to market failure; welfare criteria; limitations of mainstream analysis.
The Class: Format: lecture
Limit: 30
Expected: 25
Class#: 3143
Grading: yes pass/fail option, yes fifth course option
Requirements/Evaluation: weekly problem sets, one or more quizzes, one or two midterms, one or two short essays, and a final exam
Prerequisites: ECON 110 and MATH 130 or its equivalent
Distributions: Division II Quantative/Formal Reasoning

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