Foundations of Economics
This is a graduate course in the fundamentals of economics. Topics include comparative statics and maximization techniques, the neo-classical theory of consumption and production, general equilibrium theory and welfare economics, public goods and externalities, the economic consequences of asymmetric information and incomplete markets, and recursive methods with applications to labor eco-nomics and financial economics. Open to Social Science graduate students only.
The online version of the Caltech Catalog is provided as a convenience; however, the printed version is the only authoritative source of information about course offerings, option requirements, graduation requirements, and other important topics.