The course will cover the following topics:
- How firms make decisions regarding pricing, product design, advertising
- How firms make decisions regarding entry, mergers and takeovers, innovation, vertical relation
- The welfare effects of firm decisions and market power
- Interactions between strategic firms and competition
- Abuse of dominance and other socially suboptimal behavior by firms, and how to regulate it
- Basic methods for using data to analyze firm behavior
Course Aimed At: Those with some knowledge of basic microeconomics, including consumer and producer theory, basic calculus and optimization.
Pre-Requisite Knowledge Required: Participants should have had a basic first year class in micro-economics. They should be familiar with very basic calculus, like how to maximize a simple one-variable function (necessary and sufficient conditions).
Transferable Knowledge and Skills: Analysis of industries and regulation
Lecture Hours: 12 x 1 hour 15 minutes (total 15 hours)