More . . . MICROECONOMICS
 

I came away from this course with an enhanced ability to think strategically about business decisions and market outcomes. From highly competitive markets to monopolies, I now have a greater understanding of the forces and drivers that affect business success. 

 

The basic idea of the class was to use the machinery of economics to build models that simplify reality. Then take complex, real world situations and reduce them to their bare essentials and analyze them with the tools of the model.

 

Major concepts included:

  • Production decisions and cost minimization

  • Market power

  • Pricing strategies

  • Capturing Surplus

  • Competitors

  • Asymmetric information

 

 

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