I designed a course on the economics of asymmetric information,Econ 229.In addition I also teach Econ 101, introductory economics. I have taught a graduate course called Topics in Applied Economics (Econ 652). While still at Princeton, I was a lecturer for Economics and Public Policy, a course jointly offered by the Princeton economics department and the Woodrow Wilson School of Public Policy.

An Overview of Econ 229

We will explore asymmetric information – the lemons problem, moral hazard, adverse selection and the collapse of the market. We will focus on applications of these problems to different markets and to the contractual relationships between principals and their agents. Applications vary widely, from the functioning of credit markets to corporate fraud to the economics of violent crime. We will also look at solutions to the problem through (1) repetitive relationships (discussed in the light of repeated game theory), (2) reputation effects (bilateral and multilateral punishment), (3) signaling and screening, (4) use of intermediaries, and (5) peer monitoring. We will also discuss the micro and macro consequences of different solution strategies.