How Markets Work: Theory, Evidence and Empirical Tools
Uses theoretical models & empirical tools to understand how markets work and implications for public policy/firm strategy. Introduces main theoretical models and empirical techniques used to study range of markets, applying these methods to understand issues/markets in detail. Topics may include auctions, mergers/antitrust policy, collusion, dynamic pricing of new products, price discrimination, insurance markets and advertising. Students will read/evaluate research papers and complete empirical problem sets, highlighting areas suitable for future research. Pre-requisites: ECON208D. One course.