In this applied course in microeconomics, we draw upon game theory models to explore the strategic decisions firms must make to compete in the market and compete for the market. Throughout the course, our emphasis will be on market structure and its influence on market power, and we will integrate theory with real-world case studies to delve into critical topics such as pricing, advertising, platform competition, capacity investments, investments in R&D product innovation, and patent strategies.
We will explore the key concepts in the course verbally and through written expositions, and use mathematical formulations to express the ideas in formal terms. For this, knowledge of high school-level algebra and geometry is required and expected.
The course has two requirements: [a] Class participation based on a deep reading of assigned materials and [b] problem sets and related assignments. You should not miss a class. Before coming to class, you must engage carefully with the assigned materials and participate seriously in class discussions. Also, you must complete all problem sets and submit them for discussion in a timely manner.
Learning Outcomes:
The course is designed to achieve two main objectives: [1] to help students develop a critical understanding of core principles in microeconomics and game theory, enabling them to apply these principles to analyze real-world scenarios including market structure, strategic interactions among rival sellers, and entry and deterrence strategies in industries; and [2] to assist students in formulating analytical questions and conducting active, self-directed investigations to further expand their knowledge. Throughout this course, students will expand their capabilities for economic reasoning and progress in their capacities to inquire, engage, and communicate.
Delivery Method: Fully in-person
Course Level: 2000-level
Credits: 2
Th 3:40PM - 5:30PM (Full-term)
Maximum Enrollment: 12
Course Frequency: Every 2-3 years
Categories: 2000 , All courses , Cancelled Courses , Fully In-Person , Two Credit , Updates
Tags: critical analytical thoughts , economics , game theory , microeconomics