Strategic Competition in Market Economies

Catalog description

Economics 345 is a course that assesses strategic competition in market economies. At the outset, we will develop the basic concepts of value maximization and market concentration along with the dynamics of market entry and exit as they influence, and are influenced by, market structure. this will be followed by an assessment of the various strategic behaviors engaged in by actual and potential competitors in modern market economies. These will be used as a basis for studying business practices such as product differentiation, the pursuit of technological change, and price discrimination. Throughout the course, we will review the antitrust and regulatory activities of the U.S. government, with a close look at current practices in each area. We will also use case studies of individual industries to illustrate the usefulness of economic analysis for learning about contemporary business practices and policy issues.