Decision Making Under Uncertainty

1 Course Unit

This course will show how individuals make decisions in a world full of uncertainties, both normatively and descriptively. This theory will help us build skills in understanding and analyzing a choice problem with uncertainty in a systematic fashion, as well as deepening our understanding of the fundamental concept of a utility function, which plays a critical role in economic modeling. The course requires a substantial ability of abstract thinking. Homework is intended to be thought-provoking rather than skill-sharpening. Not Offered Every Year Prerequisite: ECON 2100 AND ECON 2300 AND (MATH 1400 OR MATH 1070) AND (MATH 1410 OR MATH 1510 OR MATH 1080) 1 Course Unit