Search Results
Your search for · ECON 246 · during 24FA, 25WI, 25SP · returned 1 result
-
ECON 246 Welfare Economics and Mechanism Design 6 credits
This course presents economic theory on how society as a whole ranks and chooses between different alternatives. It delves into the realm of normative economics analyzing objectives society may want to pursue, mechanisms designed to reach those objectives, and the resulting welfare of individuals affected by the choices made. The theoretical tools discussed will be used to study different mechanisms of voting, redistributing income, government intervention, auctions, and trade. Among other things, students will be exposed to the Pareto criterion, Arrow’s impossibility theorem, the Vickrey-Clarke-Grove mechanism, the Coase theorem, utilitarianism, Rawlsian ethics, and welfare theorems.
Not offered in 2024-25
- QRE, Quantitative Reasoning SI, Social Inquiry
-
Student has completed any of the following course(s): ECON 111 – Principles of Microeconomics with a grade of C- or better or has received a score of 5 on the AP Microeconomics test or a score of 6 or better on the IB Economics test.