Econ 476 students will be able to
- Analyze basic models of competition among firms producing homogeneous goods: competition, monopoly, Cournot oligopoly, Bertrand oligopoly, Stackelberg oligopoly.
- Apply basic game theory including solution concepts for normal and extensive form games.
- Demonstrate an understanding of extensions to these basic model, including supergames, models of product differentiation, and games of incomplete information.
- Apply these models to key issues in theoretical and applied industrial organization: mergers, collusion, advertising, R&D competition, antitrust policy, entry accommodation and entry deterrence, and business strategy.
- Discuss the role of government in the market in determining antitrust policy, patent policy, and regulation.
- Read, synthesize, and write short review papers on applied or empirical papers from the industrial organization literature.