ECON408

This paper explores the application of microeconomic theory and methodology to the problems faced by decision makers in the private and public sectors. Managerial economics helps managers and business analysts allocate scarce resources efficiently, and plan effective business strategies. Topics include decision making across various market structures (e.g. perfect competition, monopolistic competition, oligopoly, monopoly) and specifically looks at strategic behaviour when market power exists. Since game theory is required for this sort of analysis, aspects of game theory will also be studied.