Microeconomics for Management and Consulting

Catalog description

Many managerial decisions, as well as recommendations provided by consulting firms, are based on economic analyses. The goal of this course is to go beyond basic microeconomics and cover more advanced microeconomic frameworks and analyses most useful for management and consulting. The course is divided into four parts. Part I starts by reviewing the basic analyses of supply and demand, profit maximization concerning production and pricing, and competitive equilibrium. It then covers a number of advanced issues concerning the costs of production. Part II focuses on advanced issues concerning pricing including price discrimination, two-part pricing, and pricing a product line. Part III focuses on other firm-consumer strategies including issues that arise when selling a durable good, as well as basic concepts concerning asymmetric information. Part IV focuses on firm-firm strategies including contracting/agency analysis and oligopoly interaction.