ECON 8650 - Strategic Decision Making and Competitive Pricing

3 Class Hours 0 Laboratory Hours 3 Credit Hours
Prerequisite: ECON 8010 or equivalent.
This course provides an economic analysis of the fundamental issues which underpin the firm’s pricing and production decisions. Topics include product differentiation, employee compensation, optimal advertising, cartel behavior,` devices which facilitate collusion, and the effects of economics of scale and scope on pricing and market behavior. In addition to traditional micro economic analysis, this course also adopts a variety of models from noncooperative game theory. The goal of these models is to enhance the manager’s understanding of the impact of competition, regulation, and asymmetric information on the firm’s allocation of resources.