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Apr 20, 2024
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ECON 438 - Seminar: Market Failure in Financial Markets Semester Offered: Second Semester Credits (Range): 3 Hours Attribute: 3 SS, WR
The seminar will examine the theoretical framework used by economist to understand many financial phenomena such as credit rationing, bank runs and panics, and solvency problems. Market failure, a situation where market equilibria fail to be Pareto optimal, often occurs when asymmetric information, market power, externalities, and/or public goods are present. Market failure explains why financial intermediaries exist and provides an economically defensible justification for financial markets regulation. Enrollment limit: 10. Instructor: A. Ortiz Bolanos Prerequisites & Notes ECON 253 (Intermediate Microeconomics) is required. ECON 211 (Money, the Financial System and the Economy) and/or ECON 313 (Games and Strategy in Economics) are also highly recommended.
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