Lecture, 2.00 ECTS
Topics: Introduction to Microeconomics; polypoly; monopoly, Introduction to game theory; competition strategies in different types of market (product differentiation, price discrimination, cartel formation, collusion).
The course deals with the interaction between Market and business. Topics are the behavior of companies in polypoly, monopoly and oligopoly. Students are able to recognize and understand major microeconomic models and to apply them to given basic economic phenomena. In addition, students learn the most important concepts of game theory and apply them in simple examples. Students can derive competitive decision making in different market forms (such as product differentiation, price discrimination, cartel formation, collusion).
Recommended or required reading and other learning resources / tools
Books: Bydlinski (2014), Grundzüge des Privatrechts, 9th edition (Manz Wien); Bofinger (2015) Grundzüge der Volkswirtschaftslehre: Eine Einführung in die Wissenschaft von Märkten, 4th edition (Pearson Wien).
Mode of delivery
Lecture, 1 group, 3 ASWS
Prerequisites and co-requisites
Assessment methods and criteria
Final Examination and take home assignments