- Perfect markets
- Technologies and cost minimisation
- (Absence of) market forces and price-quantity decision
- Price discrimination
- Advertising
- Oligopolistic competition and agreement
- Other topics, chosen by the teacher
- Theory of consumer choice, market failures, vertical relationships, aspects of gaming theory.
At the end of this learning unit, the student is able to : | |
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Consumer choice, demand and elasticity, production decision and supply, law of supply and demand, market equilibrium and economic efficiency.
Production function, average and marginal income, returns to scale, short and long-term cost minimisation, fixed and variable costs, total, average and marginal costs, economies of scale.
Total, average and marginal revenue, profit maximisation, marginal and average conditions, elasticity and margin.
Pricing and market segmentation, two-part pricing and related sales, aggregation of demand and groups sales.
Optimal advertising expenditure: the Dorfman-Steiner model.
Cournot duopoly and best response, Stackelberg quantity leadership and the advantage of initiative, Bertrand price war, collusion, coordination and incitement to cheat.
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The contribution of this Teaching Unit to the development and command of the skills and learning outcomes of the programme(s) can be accessed at the end of this sheet, in the section entitled “Programmes/courses offering this Teaching Unit”.
- Lectures
- Practical exercises.