Course Description
This course introduces students to priciples of economics and their applications through the lens of microeconomics. Topics covered include how goods are allocated (e.g., markets or central planning), consumer behavior (demand), firm behavior (supply), competitive markets, monopoly markets, antitrust, externalities, and the distribution of income.
Information for Fall 2024:Course Description
This course is designed to equip students with knowledge and judgment to manage the impact of competitors and regulators on the success of an organization. The course will provide insight on how leaders of companies can reshape the nature of the competition in their markets.
The course will focus deeply on strategic decisions related to pricing. Pricing is critical to a company’s performance, as any mistake directly damages a company’s bottom line. Determining “appropriate” prices is not always simple. When setting prices, the leaders of a company are constrained by their competition, the strategies they have at their disposal, and the oversight of competition authorities and regulators. Further, leaders must consider how advances in pricing technology, such as the develop of algorithms, might allow for a shift in strategy or the success of new business models. In this course, you will use modeling (economics and game theory), simulations, and real-world examples to build understanding and intuition about strategic pricing decisions. The lessons gained from studying pricing can be applied to competitive interactions on other dimensions.
Course Overview Note [Link for educators]
Cases (* Teaching note available)