Asset Pricing and Portfolio Choice, 2026 Fall ECON 139 001 LEC 001

This undergraduate elective focuses on financial economics, with specific emphasis on asset pricing and the valuation of risky cash flows. After developing and studying the details of consumer decision-making under uncertainty, we use this general framework as a basis for understanding both equilibrium and no-arbitrage theories of securities pricing, including traditional models like the capital asset pricing model and newer Arrow-Debreu theories.