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ECON 4053 [0.5 credit] Financial Market Modeling

The modeling of the evolution of prices in (near) efficient markets and the evaluation of functions of these prices such as guarantees, options, warrants, futures, and other types of derivatives. Arrow-Debreu state-contingent claims. Notions of complete and incomplete markets.
Precludes additional credit for ECON 4100 (no longer offered) and ECON 4504 (no longer offered).
Prerequisite(s): ECON 2030 with a grade of C- or higher and ECON 3001 with a grade of C- or higher.
Lectures three hours a week.