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Economics of Competition in High Tech Industries

TMP 411

This course will introduce managerial economics. Managerial economics is fundamentally a branch of applied microeconomics, focused on the decision and organizational design problems faced by managers. This course will stress strategic issues arising in markets that are not perfectly competitive. The underlying analysis for these competition issues comes from the field of Industrial Organization (IO), broadly conceived. IO is the branch of applied microeconomics that deals with imperfect competition, especially the small number strategic interactions that are virtually inevitable in high tech industries. In these industries, both antitrust law and intellectual property law are important. The course is designed to develop the student's economic intuition, especially the ability to analyze problems, and provide problem-solving principles that will serve well in many settings. No background in economics is necessary.