AEC 512 - Advanced Price Theory Ii

Institution:

University of Rochester

Subject:

Description:

This course teaches the tools of game theory and contract theory, and applies them to topics in industrial organization, organizational economics and other areas. Game theory is the study of strategic interaction among a small number of decision-makers. It is nowadays applied in almost any area of economics, as well as in related disciplines such as finance, accounting, marketing and operations research. Contract theory is concerned with the optimal design of contracts (and at a larger scale, organizations) that define the "rules of the game" under which agents (such as a firm's employees) interact. In this sense, it can be thought of as an extension of game theory. Contract theory is the methodological basis of much of modern organizational economics, but its methods are applied in many other contexts, too, notably finance. The course is organized by concepts and methods, but most time will be spent on applying them to a large variety of topics.

Credits:

3.00

Credit Hours:

Prerequisites:

Corequisites:

Exclusions:

Level:

Instructional Type:

Lecture

Notes:

Additional Information:

Historical Version(s):

Institution Website:

www.rochester.edu

Phone Number:

(888) 822-2256

Regional Accreditation:

Middle States Association of Colleges and Schools

Calendar System:

Semester

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