ECON 481 - Auction and Market Design

(Same as MATH 481.) Prerequisite, MATH 116 or MATH 210 or MGSC 209 or consent of instructor. This course translates economic theory and analysis into practical solutions to real-world problems. By redesigning both the rules that guide market transactions and the technology that enables trades to take place, this course shows how decentralized systems like auctions can assist organizations and societies to better allocate scarce resources. Topics include digital advertising, matching, spectrum allocation and high-frequency trading to name a few. Letter grade. (Offered fall semester.) 3 credits