3.0

credits

Average Course Rating

Economists generally work with a number of classic models of how people behave in different contexts. These models (such as utility maximization and expected utility maximization) are widely used because they are tractable and elegant, but are they also accurate models of human behavior? In this course, we examine the axiomatic foundations of these models, explore their implications for choice behavior, and discuss the empirical and experimental strategies economists have developed to test these models. The course would require you to solve mathematical problems; knowledge of mathematics up to the level of multi-variate calculus would be very helpful.