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ECON 4056 [0.5 credit] Insurance Economics

The theory of insurance founded on probability and decision theory. The optimal design of insurance policies from a risk-sharing and an information economics perspective. Principal-agent problems including adverse selection, asymmetric information, and moral hazard with implications for insurance. The interaction between insurance and other markets.
Prerequisite(s): ECON 2030 with a grade of C- or higher and ECON 2220 (or equivalent) with a grade of C- or higher.
Lectures three hours a week.