ECON 370 Advanced Topics in Economic Theory (Not offered 1999-2000)
The purpose of this course is to introduce the student to mathematical methods and models of economic theory at an advanced undergraduate level. In this economics course, a set of fundamental mathematical tools will be presented and applied to study a variety of topics. The idea is to help the student develop greater proficiency in the use of mathematics in economics and some sophistication regarding the power (and limitations) of mathematical models as aids to intuition in economics. One of the aims of the course is to expose the student to enough traditional and recent theoretical tools and applications so that many of the professional articles in leading economics journals will be comprehensible. This course may be well-suited to students interested in applications of mathematics to economics, students interested in further developing their analytical skills, and to students considering advanced study in economics. As a foundation, some traditional uses of math in economics will be considered. Among the additional topics that may be explored are models of social security, growth theory, choice under uncertainty and insurance, asymmetric information, modern approaches to money and macroeconomics, and game theoretic models of industrial organization, bargaining, irrationality, and monetary policy. Methods of evaluation will likely be two exams. Prerequisites: Economics 251 and 252; Mathematics 104 or permission of instructor. Enrollment limited to 25.