New York University 4 credits Economics
This course takes a formal approach to analyzing the way firms make production and sales decisions and interact strategically with each other in the marketplace. We begin with a study of optimal pricing policies, including versioning, bundling, and related market segmentation strategies. In the second part of the course, we apply game theory to the study of oligopoly interaction, focusing on pricing and output strategies in a dynamic setting. Finally, we analyze strategies for firm dominance, especially through the deterrence of potential competition. The list of such strategies includes capacity expansion, product proliferation, and exclusive dealing contracts. The main goal of the course is to develop the basic intuition for pricing and other forms of strategic behavior on the part of firms, both when faced with complex patterns of consumer demand and when faced with strategic competitors. In-depth case analyses are adopted to showcase how the formal analyses enable an insightful understanding of complex real-life business decision makings and the relevant policy makings, as well as to provide students with opportunities to gain practical skills in conducting business analyses. Pre-requisite: Microeconomics Fulfillment: Economics Advanced elective; BUSF Non-Finance elective; BUSM-Non-Marketing elective; IMB Business elective.
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