ECON 251
Price and Allocation Theory Fall 2023 (also offered Spring 2024)
Division II Quantitative/Formal Reasoning
This is not the current course catalog

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
Limit: 30
Expected: 30
Class#: 1778
Grading: yes pass/fail option, yes fifth course option
Requirements/Evaluation: Requirements vary by professor, but typically include frequent problem sets and multiple exams, including a final exam. They may also include one or more quizzes, short essays, collaborative projects, or presentations.
Prerequisites: ECON 110 and MATH 130 or its equivalent
Enrollment Preferences: Current or prospective Economics majors.
Distributions: Division II Quantitative/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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