Decisions under Uncertainty 

Uncertainty plays an essential role in economics – one rarely knows his/her situation perfectly when making a decision. Whether you are deciding how much to enjoy your money now and how much of it to save for the future, how to invest your money and how much risk to accept, how much time to devote to solving a problem set that might and might not be graded, or whether to buy a product of unknown quality, there are many unknowns that determine the outcome of your decision. The aim of this course is to study the principles of analysing this type of situation.

This course is suitable for both Econ and non-Econ majors. For Econ majors, this course can be regarded as a practice of the principles of microeconomics and learning their applications. For non-Econ majors, the course can be regarded as a taste of microeconomics through analysing situations of a practical character. The course will be taught in a self-explanatory way, although a moderate level of math skills will be required.