- Schedule of Classes - January 14, 2015 6:16PM EST
- Course Catalog - January 14, 2015 6:21PM EST
Course information provided by the Courses of Study 2014-2015.
An introduction to the theory of competitive equilibrium and economic efficiency. It will start with a review of the Walrasian model and identify conditions under which a price-guided decentralized competitive economy achieves an optimal allocation of resources. It will present a number of celebrated examples and applications: the standard 2x2x2 model of international trade, Leontief's input-output model, Morishima's interpretation of labor theory of value, Arrow's analysis of uncertainty and Amartya Sen's analysis of famines. Finally, problems of market failure will be reviewed. NOTE: Formerly ECON 3370.
When Offered Fall.
Prerequisites/Corequisites Prerequisites: ECON 3030, ECON 3040, MATH 1120, and ECON 3130 or ECON 3125.
Distribution Category (SBA-AS)
Regular Academic Session.
Credits and Grading Basis
4 Credits Stdnt Opt(Student Option)
Class Number & Section Details
- MWFGoldwin Smith Hall G22
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