Incomplete Markets (3) Rural land markets, fragmented credit markets, risk and insurance, human capital and labor markets, innovation and technology spillovers, coordination failures.
ECON 478 Incomplete Markets (3)
An important part of the process of economic development consists of the emergence of highly developed, well-functioning markets. Developing economies, then, are often characterized by incomplete markets. This course studies such markets. With respect to the agricultural economy, incomplete markets are evident for land, credit, and insurance. Other areas covered by the course include human capital and labor markets, innovation and technology spillovers, and coordination failures.
The objective of this course is to provide students with the opportunity to learn about the incomplete markets that are often found in developing nations. Students will develop their skills in analyzing markets in developing countries, and in writing in economics.
This course is a specialized seminar in the broader area of economic development, and hence has ECON 471 as a prerequisite. It is one of a series of advanced seminars in seven major areas of economics. The course will count toward both the major and the minor in economics.
Note : Class size, frequency of offering, and evaluation methods will vary by location and instructor. For these details check the specific course syllabus.