In this course the market structures like pure monopoly, monopolistic competition and oligopoly are fairly treated. Price and output determination and the behaviour of firms in production and pricing decisions together with the rules of these imperfect market structures will be dealt. Introduction to Game theory and equilibrium determination with different strategies are also included. Neoclassical models of factor demand and income determination both in a perfectly competitive and imperfectly competitive factor markets are included. These specifically include the determination of demand and supply of a factor for both a single variable input and when several variable inputs are used. Introduction to general equilibrium and welfare economics, introduction to the economics of information, transaction costs and uncertainty will be discussed.
- Teacher: Dr. Kassie Dessie