Course Catalog

ECON 335 Economics of Information 3 Credits
In many economic situations, economic actors do not have the full knowledge of the economic environment they are in and/or the actions taken (or will be taken) by the other actors. Often some actors have better (or more) knowledge than others. There are dramatic effects of these ''information asymmetries'' on the functioning of the markets and the formation of economic institutions in the society. This course offers a coherent framework to think about these problems. The topics covered include decision making under uncertainty (expected utility theorem, attitudes towards risk), adverse selection, signaling, moral hazard, theory of incentives and contracts, principal-agent problems, incomplete contracts, mechanism design as well as many applications such as price discrimination, efficiency wages and unemployment, credit markets, entrepreneurship, partnerships, hold-up problems, property rights, herd behavior and information cascades, reputation, auctions, matching, and optimal taxation.

Last Offered Terms Course Name SU Credit
Fall 2014-2015 Economics of Information 3
Spring 2012-2013 Economics of Information 3
Spring 2011-2012 Economics of Information 3
Fall 2010-2011 Economics of Information 3
Fall 2009-2010 Economics of Information 3

Prerequisite: ECON 201 - Undergraduate - Min Grade D
and ECON 204 - Undergraduate - Min Grade D
Corequisite: __
ECTS Credit: 6 ECTS (6 ECTS for students admitted before 2013-14 Academic Year)
General Requirements: