Online Course. Corruption, a manifestation of the principal-agent problem, is an obstacle to economic efficiency. Corruption occurs where fundamental institutions are weak or poorly designed, while situation-specific incentives make corruption tempting, and personal ethics are malleable. This course examines the economic, cultural, and political causes and consequences of corruption; cross-country comparisons of corruption levels; and examples of successful reforms and policies to combat corruption in bureaucracy and business. Prerequisite: ECON 110, or 115, or equivalent. For college students and beyond. Enrollment limited to 20 students.