Course Code
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This course emphasizes the markets in which goods and services are traded and the implications, from a welfare perspective, of the various types of market structures. The models examined include perfect competition with an emphasis on General Equilibrium analysis and welfare maxima, market failures such as public goods and externalities, the welfare losses of tariffs, dead weight losses of monopoly, price discrimination and multiplant monopolies. The course is organized according to the following areas: Theory of the Firm, Theory of Perfect Competition, General Equilibrium and Market Failure, Theory of Monopoly and Monopolistic Competition, Theory of Oligopoly, Price Leadership and Limit Pricing and Theoretical Welfare Economics.
