University at Buffalo 3 credits Economics
This course studies advanced topics in microeconomics and emphasizes application of theory to real world problems. The first part of the course covers a broad range of markets and explains how the pricing, investment, and output decisions of the firms depend on the market structure and the behavior of competitors. Specifically, it covers the analysis of market power under monopoly, oligopoly, monopolistic competition, game theory, investment, time, and capital markets. The second part emphasizes the normative approach. It covers the general equilibrium analysis, the conditions for economic efficiency, and markets with asymmetric information, externalities, and public goods.
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