Economics of Risk and Uncertainty (331-0-20)

Instructors

Marciano Siniscalchi

Meeting Info

Technological Institute L251: Tues, Thurs 9:30AM - 10:50AM

Overview of class

This course explores how economists translate intuitions about decision making under risk and uncertainty into rigorous, tractable models. It illustrates how these models help us understand important aspects of economic phenomena such as investment in financial assets, insurance, information acquisition, intertemporal allocation of resources, etc. We shall also point out some shortcomings of "standard' models of choice under risk and uncertainty, and briefly examine proposed extensions that overcome them.

Registration Requirements

ECON 281-0, ECON 310-1, ECON 310-2, Math 300-0 or equivalent

Evaluation Method

Homework (20% of final grade), midterm (30%), final exam (50%)

Class Materials (Required)

Lecture notes and Handouts (will be posted on Canvas)

Enrollment Requirements

Enrollment Requirements: Pre-requisite: Students must have taken ECON 310-1 or MMSS 211-1 and ECON 281 or ECON 381-1 or MATH 386-1 or IEMS 304 or STAT 350 to successfully enroll in this course.

Associated Classes

DIS - University Hall 122: Fri 10:00AM - 10:50AM