Economics

This course is an alternative introduction to macroeconomics. As in ECON 1023, the standard 'neoclassical’ model is presented and explained.  While this model has long been criticized by heterodox economists – those in other schools of thought than the neoclassical school – there was, until recently, a consensus within the neoclassical school itself. The 2007 financial meltdown, and the subsequent Great Recession, has changed that. This course exposes students to the ongoing debates, their historical roots, and their political implications. Students with credit in ECON 1002, or ECON 1023 or ECON 1073 may not take this course for credit.

Introduces the methods of data presentation and analysis, and their applications to business problems, including measures of data description, probability concepts and distributions, and statistical design theory. Also considers sampling theorem, hypothesis testing using different techniques.

Presents a variety of applications of optimization models to business problems such as allocation, blending, and scheduling. Introduces concepts production planning, inventory control, network models and sequencing.

Strategic games, n-person games in normal form, dominated strategies, Nash equilibrium, mixed strategies and mixed strategy equilibrium, games with perfect information, games with imperfect information, Bayesian games, extensive games. The course introduces basic non-cooperative game theory and analytical tools for decision makers (consumers, firms, politicians, governments). It is suitable for Mathematics, Economics, Management Science, Political Science, Social Science and Science students or any student with a minor in such disciplines, in particular those in the Mathematics/Statistics-Economics option.