En pratique :Volume horaire de cours : 36
Volume horaire global de TD : 16
Langue principale : Anglais
Description du contenu de l'enseignement
This course focuses on the study of the strategic behavior of firms on markets characterized by imperfect competition. Using benchmark microeconomic models of imperfect competition, we will analyze how firms behave and set their strategies (price, output level, quality), the various sources of market power and the role of competition policy in such a framework.
Starting with a classroom experiment, we will study these issues from both a theoretical and applied point of view.
Mandatory textbook for this course:
Microeconomics, by R. Pyndick and D. Rubinfeld, Eighth version of the International Edition, Pearson Education
- Lecture assignments are part of the exam program
- Available in many versions (international versus American, 6-7-8…)
Crédits ECTS de l’UE : 9
Coefficient : 3
Compétences à acquérir
At the end of the course, you should be able to…
- Identify the different types of market imperfections and assess the impact of these imperfections on market outcomes and on consumers, firms and welfare;
- Use mathematics to compute the equilibrium in a situation characterized by imperfect competition and compare different market outcomes; discuss the result of this comparison from an economic perspective;
- Use theory to analyze real-world markets i.e. identify situations of imperfect competition and market power; use a relevant graphic representation to sketch the situation; discuss the situation from an economic and policy perspective
- Always remember: microeconomics > math. computing!
Introduction to Microeconomics (Bachelor year 1); Intermediate Microeconomics (Bachelor year 1, especially all issues concerning producer theory and competitive markets); basic mathematics for economists (Bachelor 1, calculus, derivative, single- and two- variable function optimization, graphical representations).