Aims: To provide an understanding of some of the analytical tools used by economists, and to show how these can assist in providing insights into the nature of the competitive environment and their relevance to business decisions.
Learning Outcomes:
By the end of this course, students should be able to analyse markets and firms of their own choosing.
Skills:
Grasp of basic economic concepts and their applicability to the real world (taught, facilitated and assessed), critical thought, writing and analytical awareness (assessed), ability to construct an argument (assessed), Interpretation of data (assessed). Ability to interface with web resources (encouraged).
Content:
Microeconomic theory of the firm and industry, and related analytical frameworks. Topics to be covered include demand conditions, cost conditions, the competitive environment - models of market structure, price and non-price competition.
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