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ECON 251
Price and Allocation Theory Fall 2020 (also offered Spring 2021)
Division II Quantative/Formal Reasoning

Class Details

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; Sections taught by Professors Jakiela and Sheppard in the fall will be strictly remote, with both asynchronous and synchronous components. Spring section formats are TBD.
Limit: 20
Expected: 20
Class#: 2384
Grading: yes pass/fail option, yes fifth course option
Prerequisites: ECON 110 and MATH 130 or its equivalent
Enrollment Preferences: Current or prospective Economics majors.
Distributions: Division II Quantative/Formal Reasoning
QFR Notes: Course involves developing and analyzing mathematical models of real-world phenomena, grounded in tools like calculus and game theory. Students are assumed to be comfortable with topics from introductory calculus, including differentiation and integration.

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