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14.04 Intermediate Microeconomic Theory

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Prereq: Calculus II (GIR) and 14.01
Units: 4-0-8
Lecture: TR10.30-12 (E51-361) Recitation: F3 (E51-376) +final

Features economic science, the utilization of theory and evidence. Presents mechanism design, general equilibrium theory, the welfare theorems, their failure with resolutions, and the role of the public sector. Examines applications from developing and developed economies. Special attention given to technological change, including recent innovations such as blockchain, distributed ledgers, and smart contracts. Discusses the optimal allocation of risk, contract theory, improvements in financial and information infrastructure, and optimized exchange and contracting platforms.
R. Townsend
No textbook information available