sept. 11, 2024
The main goal of this course is to show how microeconomic models can be used to guide business decisions. This is a course designed for business majors, with key departures from standard introductory microeconomics courses. We will study the behaviour of consumers and firms, and their implications for demand, supply and market equilibrium. We will analyse competitive markets, market failures, and the role of government. To reflect rising concentration in markets we will spend some time on the implications of market power on firm pricing decisions and profits. We will discuss various types of market system and study how they work.