Examines how individuals and markets operate when risk, imperfect information, and spillovers are present. Develops tools to evaluate efficiency and welfare and considers how policy can address situations in which markets do not produce socially optimal outcomes.
Athena Title
Microecon Theory with Apps II
Prerequisite
AAEC 6580-6580L
Semester Course Offered
Offered spring
Grading System
A - F (Traditional)
Student learning Outcomes
Students will analyze decision-making under risk and uncertainty using expected utility and calculus-based optimization.
Students will derive and interpret equilibrium outcomes in individual and market settings using formal economic models.
Students will evaluate efficiency and welfare implications of equilibria using concepts such as Pareto efficiency and surplus measures.
Students will assess how externalities, public goods, and asymmetric information alter incentives and equilibrium outcomes.
