ECON 870 - Household Finance: Theory

Credit(s): 3

HOUSEHOLD FINANCE: THEORY
Component: Lecture
Households consume, save, borrow, and otherwise make many financial choices. Neoclassical and behavioral models of these choices will be the subject of this course. These models necessarily incorporate diverse features, including realistic lifecycle income and household composition dynamics; preferences with respect to risk, time, types of consumption, and past experience; expectations, which are difficult to form (especially about the future), and the smorgasbord of financial choices available around the modern world, including mortgages, credit cards, personal loans, payday loans, durable/installment loans, mobile payments, microfinance products, insurance against various risks, and investment through conservative government bonds and risky business equity. Financial well-being, machine learning models, and neuroeconomics will also be discussed. We will focus on developing tools for solving, estimating, and inventing models.
Repeatable for Credit: N Allowed Units: 3 Multiple Term Enrollment: N Grading Basis: Student Option
PREREQ: ECON 811 and ECON 823.

Course Typically Offered: Verify offering with Dept