Be very careful about taking this class. As an econ major, I heard that it was important to take this class to get into grad school--but the level of abstraction here crushed me. Don't take this class unless you have a very strong background in mathematical theory, and love memorizing proofs. Although he seemed to be a very good lecturer, the material was way over my head, and I had to drop.
Workload:
Almost nothing. The midterm was essentially a test of how well you remembered the proofs.