MARKETS WITH FRICTIONS

Prerequisites & course information

Requisites: ( FINANCE 305 , 325 , and ECON/FINANCE 320 ), ( ECON 301 , 302 , 311 , or 312 ), or graduate/professional standing Course Designation: Core GenEd - Social & Behavioral Science Level - Advanced L&S Credit - L&S Liberal Arts and Science Grad 50% - Counts toward 50% graduate coursework requirement Repeatable for Credit: No Last Taught: Spring 2026 Learning Outcomes: 1. Examine new issues related to frictional markets by looking at old issues in new ways. Audience: Both Grad & Undergrad 2. Demonstrate economic reasoning about the economy at a micro and macro level by applying the foundations of mainstream economics. Audience: Both Grad & Undergrad 3. Explain credit market rationing and its impact on markets for housing, small business loans and other investments. Audience: Both Grad & Undergrad 4. Articulate the contributing factors of bubbles and crashes in asset prices. Audience: Both Grad & Undergrad 5. Articulate the role of money and banking in the inter-temporal allocation of resources. Audience: Both Grad & Undergrad 6. Articulate your perspectives on fundamental questions like: Why we use money? What is a bank? How do organizations (like firms or families) form? Audience: Both Grad & Undergrad 7. Construct and analyze the three generations of money search models and apply this framework appropriately to real-world economic and financial issues. Audience: Graduate Learning Outcomes: 1. Examine new issues related to frictional markets by looking at old issues in new ways. Audience: Both Grad & Undergrad 2. Demonstrate economic reasoning about the economy at a micro and macro level by applying the foundations of mainstream economics. Audience: Both Grad & Undergrad 3. Explain credit market rationing and its impact on markets for housing, small business loans and other investments. Audience: Both Grad & Undergrad 4. Articulate the contributing factors of bubbles and crashes in asset prices. Audience: Both Grad & Undergrad 5. Articulate the role of money and banking in the inter-temporal allocation of resources. Audience: Both Grad & Undergrad 6. Articulate your perspectives on fundamental questions like: Why we use money? What is a bank? How do organizations (like firms or families) form? Audience: Both Grad & Undergrad 7. Construct and analyze the three generations of money search models and apply this framework appropriately to real-world economic and financial issues. Audience: Graduate