Course in Economics of the Firm

Indian Institute of Management Calcutta
In Kolkata

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  • Course
  • Kolkata
Description

To apply basic principles of microeconomics to selected management issues.

Important information
Venues

Where and when

Starts Location
On request
Kolkata
INDIAN INSTITUTE OF MANAGEMENT CALCUTTA Diamond Harbour Road Joka, 700104, West Bengal, India
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Course programme

Ever wondered why MBAs were paid so high or that how the $ commanded such a premium. It's time you were exposed to the dynamics of demand and supply. This is just the begining of a journey to understand the rational drivers of all economic activities. Accompanying you on this journey will be arguably the best faculty in the entire nation. Acquire the differentiator to pre-empt competition and demolish all existing monopolies.

Economics of the Firm:

Likely topics for lectures/presentations:

1. Do firms maximize profits?
2. Choice under Uncertainty, including alternative decision criteria, ignorance, expected utility, risk aversion, subjective probability (e.g., Luce & Raiffa, Games and Decision, ch.13). Prospect theory (Kahneman & Tversky).
3. Imperfect Competition. Entry Deterrence. Product Differentiation.
4. Topics in Information Theory.
5. Economics of the Invisible Hand. Efficiency and Role of Markets. Pricing of Public Goods.

Evaluation(subject to change): Mid-term (40) + End-term (40) + presentation (20).

References: Tirole (The Theory of Industrial Organization); Varian (Microeconomic Analysis); etc.

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