Nov 26, 2021  
2013 - 2014 Undergraduate Catalog 
2013 - 2014 Undergraduate Catalog [ARCHIVED CATALOG]

ECON 403 - Advanced Microeconomic Theory: Incentives

Fall or Spring (3) Campbell Prerequisite(s): ECON 303 , MATH 111  or ECON 331 .

An investigation of contracts and other devices that harness self-interest. The aim is to determine the conditions under which the mechanisms generate socially optimal outcomes. Situations in which the pursuit of self-interest is self-defeating, yielding outcomes that are far from socially optimal, are also treated. Calculus is used to identify and evaluate outcomes.