Introduces students to both theoretical and empirical models of industrial organization, which is a branch of economics that studies how firms compete against each other via pricing, quantity, entry, location, advertising, research and development, and other strategic decisions. Given that most real-world markets are not perfectly competitive nor strict monopolies, emphasis will be placed on game-theoretic models of strategic competition, both static and dynamic, and both non-cooperation as well as cooperative (e.g., collusion) models. As theoretical models are introduced, reduced-form and structural econometric methods utilized to estimate equilibrium outcomes of such theoretical models are reviewed. Econometric methods of demand function and supply function estimation are also covered.
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