Economics of Firms, Market Power, and Competition|
In this course, we study firm decision-making by exploring the fundamentals of demand and identifying categories of costs that firms must consider like pricing, exit, or market entry. We learn about market power, antitrust, and how the interplay between cost and demand fundamentals of various industries (e.g., healthcare, fintech/blockchain, social media, retail, fine arts, entertainment, and financial services to name a few) determines profit-maximizing decisions for firms. Lastly, we will explore strategic interactions between firms by way of games and "tactics." Specific, industrial organization frameworks such as holdouts, switch costs, multi-sided markets, network effects, and economies of scope will assist in deciphering firm behavior. Case studies will be used to sharpen and reinforce the principles of the course.
||Gen Ed Area Dept:
|Course Format: Lecture / Discussion||Grading Mode: Graded|
||Prerequisites: ECON 110
||Fulfills a Major Requirement for: (ECON-MN)(ECON)
||Past Enrollment Probability: Less than 50%
|Major Readings: Wesleyan RJ Julia Bookstore
Academic articles and textbook: "Baye, M., & Prince J. "Managerial Economics & Business Strategy" 10th Edition. Pearson Textbooks. 2022.
|Examinations and Assignments: |
Problem sets, short writing assignments, and a substantial final project.
|Additional Requirements and/or Comments: |
Additional requirements and/or comments
Classroom participation & student presentation
This course uses techniques learned in ECON 300 and ECON 301 and is not suitable for students who have not taken those courses.¿
|Instructor(s): Nguyen,Thanh Times: ....R.. 07:10PM-10:00PM; Location: FISK302; |
|Total Enrollment Limit: 23||SR major: 13||JR major: 10|| || |
|Seats Available: -14||GRAD: X||SR non-major: 0||JR non-major: 0||SO: 0||FR: 0|
|Drop/Add Enrollment Requests|
|Total Submitted Requests: 7||1st Ranked: 1||2nd Ranked: 1||3rd Ranked: 2||4th Ranked: 1||Unranked: 2|