Об этом курсе
The final module of the Power of Markets course begins by further exploring firm behavior in imperfectly competitive market settings: how firms with monopoly power can increase profits through price discrimination; and the price-output combinations we can expect firms to select in cases of monopolistic competition and oligopoly. We will also analyze monopolies from an efficiency perspective and look at the effects of imperfect information on firm and consumer behavior. We will next turn to exploring input markets and what determines the demand for an input by a firm, an industry, and the overall market. We will also look at the factors that affect input supply and how the supply of an input interacts with demand to determinant input prices. We will use input market theory to analyze institutions and government policies such as the NCAA sports cartel, the minimum wage, Social Security, and immigration. Finally, we will address the concept of market efficiency and what government can do to promote it as well as how government intervention may diminish it.
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Прибл. 10 ч. на завершение

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Субтитры: English
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Только онлайн-курс

Начните сейчас и учитесь по собственному графику.
Clock

Прибл. 10 ч. на завершение

Предполагаемая нагрузка: 3-5 hours/week
Comment Dots

English

Субтитры: English

Syllabus - What you will learn from this course

1

Section
Clock
3 hours to complete

Week 9 - Product Pricing With Monopoly Power

Price Discrimination. Firm Behavior in Cases of Monopolistic Competition and Oligopoly....
Reading
10 videos (Total 112 min), 1 quiz
Video10 videos
Two-Part Tariffs 14m
Monopolistic Competition7m
Oligopoly and the Cournot Model12m
The Dominant Firm Model10m
Cartels and Collusion11m
OPEC 9m
Game Theory10m
Prisoner’s Dilemma12m
Repeated Games 9m
Quiz1 practice exercises
Week 9 Quiz40m

2

Section
Clock
2 hours to complete

Week 10 - Monopolistic Competition and Oligopoly

Imperfect Information. The Efficiency Effects of Monopoly. Firm, Industry, and Market Demand for an Input....
Reading
9 videos (Total 79 min), 1 quiz
Video9 videos
Adverse Selection and Moral Hazard 10m
Limited Price Information and Advertising5m
The Size of the Deadweight Loss of Monopoly8m
Do Monopolies Suppress Innovations?6m
Natural Monopoly7m
More on Game Theory: Iterated Dominance and Commitment10m
The Input Demand Curve of a Competitive Firm10m
Industry and Market Demand Curves for an Input 7m
Quiz1 practice exercises
Week 10 Quiz40m

3

Section
Clock
2 hours to complete

Week 11 - The Market for Inputs

The Supply of Inputs and the Determination of Input Prices....
Reading
10 videos (Total 70 min), 1 quiz
Video10 videos
Industry Determination of the Price and Employment of Inputs6m
Input Price Determination in a Multi-Industry Market5m
Input Demand and Employment by an Output Market Monopoly4m
Monopsony in Input Markets 5m
The Income-Leisure Choice of the Worker 5m
The Supply of Hours of Work 11m
The General Level of Wage Rates and Why Wages Differ 9m
Economic Rent 3m
Monopoly Power in Input Markets: Unions9m
Quiz1 practice exercises
Week 11 Quiz40m

4

Section
Clock
2 hours to complete

Week 12 - Can Government Intervention Improve Market Outcomes?

Using Input Market Theory to Analyze the Minimum Wage, Social Security,Immigration, and the NCAA. Promoting Market Efficiency and Why Government Intervention in Markets May be Justified. ...
Reading
10 videos (Total 95 min), 1 quiz
Video10 videos
Who Really Pays for Social Security? 8m
The NCAA Cartel11m
The Benefits and Costs of Immigration 8m
Three Conditions for Economic Efficiency7m
Reasons for Government Intervention8m
Externalities and Public Goods10m
Externalities11m
Externalities and Property Rights6m
Controlling Pollution, Revisited 8m
Quiz1 practice exercises
Week 12 Quiz40m
4.8

Top Reviews

By RBApr 19th 2017

The course that changes way of thinking. Thank you a lot for this.

Instructor

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Mark Zupan

Professor of Economics and Public Policy

About University of Rochester

The University of Rochester is one of the nation's leading private universities. Located in Rochester, N.Y., the University provides exceptional opportunities for interdisciplinary study and close collaboration with faculty through its unique cluster-based curriculum. Its College, School of Arts and Sciences, and Hajim School of Engineering and Applied Sciences are complemented by its Eastman School of Music, Simon School of Business, Warner School of Education, Laboratory for Laser Energetics, School of Medicine and Dentistry, School of Nursing, Eastman Institute for Oral Health, and the Memorial Art Gallery....

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