Economics: Game Theory, Competition, Elasticity

Microeconomics is packed with applications to our everyday life - this course will help you connect the dots

 

What's Inside

Course Description

This is a zoom-in, zoom-out, connect-the-dots tour of Game Theory, Competition and the Elasticity of Demand andSupply.

Let's parse that

  • 'connect the dots': Economics is deep - even the simplest concepts in Micro-Econ 101 are missed by leaders in business and politics, and commit basic errors in judgment. This course makes sure that won't happen to you.
  • 'zoom in': Getting the details is very important in economics - you really have to understand the nitty-gritty of graphs and intersecting curves and lines. There is a lot of meaning in those details
  • 'zoom out': The real value of economics, particularly microeconomics, is in taking seemingly over-simplified models, and then applying insights from those over-simplified models to the world at large. This course makes sure you can go from the specific to the general.

What's Covered:

  • Game Theory: Discounting and price wars, Prisoner's dilemma and nuclear arms races, Winner-takes-all games and the commercialization of sport.
  • Competition: Perfect competition, monopoly and monopolistic competition
  • Firm Costs: The deep meaning underlying total and marginal costs, and the least-cost principle
  • Utility and Consumer Equilibrium: Indifference curves, and relating price and value. Income effects, and deriving Demand curves from indifference curves
  • Applications of Elasticity: Modeling taxes, the troublesome economics of agriculture, minimum wages.
  • Elasticity, Demand and Supply: Defining and using elasticity. Linear Demand Curves and a neat trick. Demand and Supply demystified.

Talk to us!

Mail us about anything - anything! - and we will always reply :-)

What are the requirements?

  • This course assumes no prior knowledge of economics, finance or accounting

What am I going to get from this course?

  • Over 42 lectures and 6 hours of content!
  • Apply Game Theory to decide whether to be adversarial or co-operative in real-life situations
  • Determine how best to price products or services that you are selling
  • Decide the kind of cost structure a firm or enterprise should have, relative to its competitive landscape
  • Model demand, supply and the effects of income, government regulations and technology

What is the target audience?

  • Yep! Business majors and aspiring MBAs
  • Yep! Finance professionals who are rusty on economics, and its role in how firms compete and operate
  • Yep! Strategy professionals looking for a theoretical grounding in concepts like game theory and elasticity
  • Yep! Aspiring entrepreneurs eager to understand how to react to competition

Class Curriculum

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Your Instructor
Loonycorn

Loonycorn is comprised of a couple of individuals —Janani Ravi and Vitthal Srinivasan—who have honed their tech expertises at Google and Stanford. The team believes it has distilled the instruction of complicated tech concepts into funny, practical, engaging courses, and is excited to be sharing its content with eager students.

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