Consumers, Trade, and Business Strategy

Introduksjon

The course uses consumer theory to develop a deep understanding of consumer behavior, firm production, and trade. It introduces students to international trade and comparative advantage, and deepens their ability to apply game theory to analyze business strategy and competition policy.

The course has three broad goals. The first is learn the philosophical and mathematical foundation of consumer behavior. The second goal is to derive firms' production choices and use them to analyze trade patterns and market structure. The third is to demonstrate how market imperfections shape consumer and firm strategies, equilibrium outcomes, and policy responses. 

Kursets innhold

• Preferences, budget constraints, and utility maximization
• Intertemporal choice, assets and savings + uncertainty and insurance
• General equilibrium and welfare with Edgeware box + externalities
• Production and Ricardian model of comparative advantage

• Apply modern models of international trade 
• How differentiated goods, firm heterogeneity, and monopolistic competition shape trade patterns and exporting decisions
• Strategic interactions and modern solution concepts in game theory, static and repeated games, with complete and incomplete information
• Cartels and collusion in equilibrium, ending with competition policy

Forbehold

Dette er et utdrag fra den komplette kursbeskrivelsen for kurset. Dersom du er aktiv student på BI, kan du finne de komplette kursbeskrivelsene med informasjon om bl.a. læringsmål, læreprosess, pensum og eksamen på portal.bi.no. Vi tar forbehold om endringer i denne beskrivelsen.