Market and Competition

Purpose
There is a market for everything; whether you buy your lunch and beer or sell your products and services. But markets are not the same. The aim of the course is to provide basic knowledge on the functioning of markets and the characteristics of different market structures. 

The concepts and methods introduced will be applied to specific business decisions, including the analysis of a company’s strategy in the short- and long-term, depending on market structure and regulation. We will also learn how to estimate the value of a product or service, and how to price effectively, depending on market characteristics.  

The students will acquire the skills and methods to describe, analyze, and understand their own and other industries, and translate this knowledge into concrete strategic recommendations. 

Content

• Supply, demand, and the functioning of the market economy 
• Market structure: Perfect competition, monopoly, monopolistic competition, and oligopoly 
• Estimating the value of a product or service 
• Company’s production decisions and pricing strategies 
• Game theory and business strategy 
• A range of exciting, real-world inspired exercises and class discussions, and business case studies