Economics and Strategy

Catalog description

This is a course in Economics, Strategy and the Firm with a primary focus on the needs of managers. It draws upon a range of concepts and tools from the fields of Industrial Organization and Strategic Management to review the cognitive building blocks that provide an economic foundation to strategic thinking. Strategy is ultimately about value creation and capture of economic value. Value-based strategies show that a firm that introduces a technological innovation creates value, and if it fails to protect it from competition it will be driven out of business. This basic level of insight is linked to the rich tradition in economics to untangle some ambiguities surrounding these concepts and provide a deeper understanding of strategic decisions made by managers within the bounds imposed by competition. | Prerequisite(s): Graduate Standing