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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.
Syllabus
WEEK 1
Product Pricing With Monopoly Power
Price Discrimination. Firm Behavior in Cases of Monopolistic Competition and Oligopoly.
WEEK 2
Monopolistic Competition and Oligopoly
Imperfect Information. The Efficiency Effects of Monopoly. Firm, Industry, and Market Demand for an Input.
WEEK 3
The Market for Inputs
The Supply of Inputs and the Determination of Input Prices.
WEEK 4
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.
MOOC List is learner-supported. When you buy through links on our site, we may earn an affiliate commission.
MOOC List is learner-supported. When you buy through links on our site, we may earn an affiliate commission.