The course based on the theoretical and empirical results of the theory of industrial organisations and deals with models of the profit maximizing behaviour of firms in different market structures.
After completing this course, students should have developed a range of skills enabling them to understand economic concepts and use those concepts to analyze specific questions.
By the end of this course, students should be able to:
· Understand firm behavior.
· Analyze different types of market structures (monopoly, oligopoly and a competitive market).
· Understand how to apply economic principles to a range of policy questions.
Students should also have the skills needed to:
· Use supply and demand diagrams to analyze the impact of overall changes in supply and demand on price and quantity.
· Solve a firm's profit maximization problem mathematically and graphically.
· Analyze the behavior of firms in a perfectly competitive market in the short-run and the long-run.
· Calculate producer and consumer surplus.
· Analyze the behavior of firms in a monopoly or oligopoly, and calculate the resulting changes in producer or consumer surplus.
· Understand firms behavior under uncertainty and asymmetric information.
- Teacher: Zoltán Bodrog
- Teacher: Norbert Kovács