Content
The goal is to analyze the functioning and welfare properties of markets when the assumptions of perfect competition are relaxed. The emphasis is on strategic interaction, market power, and information problems, and on the resulting insights into market failures and economic policy. Towards these goals the topics of game theory, oligopoly and monopoly, pricing strategies, externalities, public goods, and asymmetric information are introduced. The course develops the foundations of microeconomic policy analysis and highlights the role of institutions and regulation in improving market outcomes.
I am currently not teaching this course.