Introduction to Market Structures

This course deals with the study of market structures in economics. The study of market structures helps us to understand the pricing of goods and services in the market. Based on toy models, we will study how the price of a good changes with the changes in the market structure.This course can be considered as economic application of game theory. The main tool used to address the questions is game theory. A small component of the course will also be devoted to game theory.The different strategies used by the firms to out compete the rivals, avoid competitions, etc will be introduced in the course.INTENDED AUDIENCE : PG and UG (Advanced), BTechPREREQUISITES : Calculus and little bit of familiarity with optimization

Week-1 : Introduction to Industrial Organization, Consumer behavior and Derivation of Demand curve
Week-2 : Production and Cost curves Week-3 : Competitive Market
Week-4 : Monopoly Week-5 : Game Theory: Static games of complete information (Nash equilibrium) Week-6 : Dynamic games of complete information ( Subgame perfect Nash equilibrium)
Week-7 : Cournot Competition Week-8 : Bertrand Competition Week-9 : Stackelberg Games Week-10 : Product Differentiation Week-11 : Entry Deterrence Week-12 : Bundling and Tying