Economics of Firms & Markets
Prof. Dr Jenny Kragl
This module builds on the module Introduction to Economics and equips students with further fundamental and advanced concepts of economic interaction in firms and markets. Students study the implications of market incompleteness, failure and imperfection. In particular, students learn to what extent market imperfections bring about institutions (e.g., regulation, government intervention) and organizations (e.g., firms) and how they can help overcome adverse implications of market imperfections and thus raise overall welfare in the society.
Upon completion of the module, students are acquainted with economic models and concepts suitable to investigate the existence, functioning, and boundaries of the firm. They will be equipped with economic tools to analyze strategic interactions within and between firms, thereby improving their fundamental skills regarding reasonable decision making in a variety of management and business contexts.
Courses within this programme module:
- Economics of the Market
- Economics of the Firm - Prof. Dr Jenny Kragl