The course is an introduction, or a refresher, to the basic concepts and models of the microeconomic analysis of the firm and markets. The focus is on firms’ conduct under different market structures. Market structures covered are competition, monopoly, and oligopoly. Firms’ strategies in oligopolies are discussed using conjectural variations models and the basic concepts of game theory. A comprehensive introduction to the business case of digital platforms in multilateral markets is presented for monopolies and oligopolies. Finally, there is a discussion of the role of government in the market system. At the end of the course, students should be able to use microeconomic principles to inform managerial and business decisions and to understand the broad economic environment where the firm operates.

Prerequisites: None