Syllabus
Course Outline in Short:
1. Introduction – “Advanced and Applied Micro”, Market Failures.
2. Market Power, Product Differentiation - Whether (and How) to Get it.
3. Spatial and Location Competition.
4. Vertical and Horizontal Market Structures.
5. Tacit Collusion - and How to Reach It.
6. Network Externalities, Standardization and Compatibility.
7. Competition versus Market Power.
8. Time Factor in Market Relations.
9. Legal Framework and it’s Consequences.
10. Basic Concepts of Contract Theory, Strategic Alliances, Mergers.
11. Managing Dealer’s Prices and Exclusive Territory.
12. Investment to Strategic Development of New Technologies.
Annotation
Course deals with certain aspects of firm’s behavior which are quite different than what would be expected when using the basic properties and theories. Such a behavior frequently depends on the structure and properties of a given market or industry.
Methods and models for such cases are studied together with examples.