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VICTOR STANGO, Associate Professor of Business Administration | ||||||
| TEACHING
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| Managerial Economics | |||||||
| This course applies the ideas and methodology of economics to analysis of the firm, key decisions within the firm, and the industry. Topics covered include costs, pricing, competition, economic efficiency, and industry equilibrium and change. Particular attention is paid to behavior of the firm and industries when uncertainty and transaction costs exist. The course combines lectures/discussions of principles with cases covering both current and classic firm and industry dilemmas. Issues of public policy, especially regarding antitrust issues, are also covered. | |||||||
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Competition
and Public Policy
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The array of
competitive tactics employed by companies is constantly expanding, and
these tactics often face scrutiny from antitrust authorities. In this
course, we will study the variety of ways in which firms compete through
price, production, and entry and exit in markets. We analyze firms'
motivations (both pro-competitive and anti-competitive) for these
strategies, how these strategies are implemented, when they are likely
to be effective, and how they are viewed by U.S. antitrust laws. The
material will be structured around discussion of well-known antitrust
cases, ranging from classic cases in monopolization to the most recent
cases in high-tech markets. Central to the course is the
Competitive Strategy Game, a
simulated interaction among up to eight companies competing in one or
more of four possible markets. The game permits application of many of
the concepts studied in the course. |
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