Microeconomics III: Market Structure and Economics of Information
“Microeconomics III” is a part of the English-language Master’s program in Economic Analysis. The course covers a number of topics concerning market structures under imperfect competition, namely monopoly, monopolistic competition, and oligopoly. The pricing behavior of monopolists and oligopolists is studied within the framework of classic game theoretical models. Among them are price discrimination models, information economics models, and the Cournot, Bertrand, and Stackelberg oligopoly models. Basic concepts of game theory are also illustrated on auction games.
Will be interesting for:
analysts working at public sector organizations and research centers,
students, professors, and scientists.
After course completion, you will able to:
explain the pricing behavior and market structure of industries
solve basic game theoretical models
deepen your knowledge in application of game theory to economics and business models
Prerequisites: Basic consumer and producer theories, perfect competition
Education format: Two lectures per week for six weeks + exams from 09 January to 03 March 2022. The detailed schedule of classes will be announced later. The training will be conducted in a mixed format (online + offline) during the day.
Price: 10 000 UAH
Course outline: 1. Refresher: Market Demand. 2. Monopoly. 3. Price discrimination. 4. The basic model of nonlinear pricing. 5. Nash equilibrium: definition. 6. Nash equilibrium: applications. Auctions. 7. Oligopoly. Cournot and Bertrand duopoly models. 8. Dynamic games. Stackelberg duopoly model. 9. Economics of information. Adverse selection and moral hazard.