Unit: College of Arts and Sciences
Department: Department of Economics
Office location and address
1605 Jefferson Park AveCharlottesville, Virginia 22904
Course asks a variety of questions and uses a wide range of topics to introduce students to fundamental tools & concepts in decision & game theory, including: strategy of electoral competition, logic of armed conflict, design & enforcement of international treaties, voting systems & social choice, & key tools in modern public policy toolbox (matching, procurement auctions).
Analyzes the theory of strategically interdependent decision making, with applications to auctions, bargaining, oligopoly, signaling, and strategic voting. Prerequisite: ECON 3010 or 3110, and STAT 2120 or equivalent
The course will consider the theory and practice of market design. We will study classical market failures (market power, externalities, incomplete information, missing markets), the core tools used in practice (auctions and deferred acceptance algorithms), and examples of their real world use (FCC Spectrum Auctions, Google Adwords, the Boston Public School Match, the National Resident Matching Program, and the Northeastern Kidney Exchange).
This course uses basic models from microeconomics to understand how these decision makers will respond to policies and when voluntary actions in private markets may be expected to lead to suboptimal outcomes and hence the circumstances under which a collective decision to control or influence behavior might produce better outcomes than private choices.
New course in the subject of economics.