- Differentiate between different market forms (perfect competition, monopoly, monopolistic competition, and oligopoly) and derive the optimal price and output decisions depending on the market structure.
- Analyse strategic behaviour in different market situations and evaluate how firm and social outcomes vary with differing market forms.
- Recognize situations which give rise to market failure and make suggestions with regard to its aversion.
This lecture also requires from the students to develop the following abilities:
- To apply theoretical concepts to practical examples.
- To use analytical methods for the solution of diverse problem sets (e.g. finding the optimal decision for a given stakeholder using mathematical derivations).
- To present and explain complex theoretical concepts.