This course provides students with an understanding of the analytical tools that bear directly on the firm’s economic decisions. It emphasizes industrial performance and market structure, including the firm’s strategic interaction. In addition, students will also examine the behavior of individual markets.
- Understand the analytical tools that bear most directly on the economic decisions firms must regularly make.
- Comprehend market structure and industrial performance, including the strategic interaction of firms.
- Analyze the behavior of individual markets — the producers and consumers that sell and buy in those markets — focusing on cost analysis, the determinants of market demand, pricing strategy, market power, and the implications of government regulatory policies.