University of Rochester - The Power of Markets III: Input Markets and Promoting Efficiency
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The Power of Markets III: Input Markets and Promoting Efficiency at Coursera Overview
Duration | 8 hours |
Start from | Start Now |
Total fee | Free |
Mode of learning | Online |
Difficulty level | Intermediate |
Official Website | Explore Free Course  |
Credential | Certificate |
The Power of Markets III: Input Markets and Promoting Efficiency at Coursera Highlights
- Shareable Certificate Earn a Certificate upon completion
- 100% online Start instantly and learn at your own schedule.
- Flexible deadlines Reset deadlines in accordance to your schedule.
- Approx. 8 hours to complete
- English Subtitles: English
The Power of Markets III: Input Markets and Promoting Efficiency at Coursera Course details
- The final module of the Power of Markets course begins by further exploring firm behavior in imperfectly competitive market settings: how firms with monopoly power can increase profits through price discrimination; and the price-output combinations we can expect firms to select in cases of monopolistic competition and oligopoly. We will also analyze monopolies from an efficiency perspective and look at the effects of imperfect information on firm and consumer behavior. We will next turn to exploring input markets and what determines the demand for an input by a firm, an industry, and the overall market. We will also look at the factors that affect input supply and how the supply of an input interacts with demand to determinant input prices. We will use input market theory to analyze institutions and government policies such as the NCAA sports cartel, the minimum wage, Social Security, and immigration. Finally, we will address the concept of market efficiency and what government can do to promote it as well as how government intervention may diminish it.
The Power of Markets III: Input Markets and Promoting Efficiency at Coursera Curriculum
Week 9 - Product Pricing With Monopoly Power
Intertemporal Price Discrimination and Peak-Load Pricing
Two-Part Tariffs
Monopolistic Competition
Oligopoly and the Cournot Model
The Dominant Firm Model
Cartels and Collusion
OPEC
Game Theory
Prisoner?s Dilemma
Repeated Games
Week 9 Quiz
Week 10 - Monopolistic Competition and Oligopoly
Asymmetric Information
Adverse Selection and Moral Hazard
Limited Price Information and Advertising
The Size of the Deadweight Loss of Monopoly
Do Monopolies Suppress Innovations?
Natural Monopoly
More on Game Theory: Iterated Dominance and Commitment
The Input Demand Curve of a Competitive Firm
Industry and Market Demand Curves for an Input
Week 10 Quiz
Week 11 - The Market for Inputs
The Supply of Inputs
Industry Determination of the Price and Employment of Inputs
Input Price Determination in a Multi-Industry Market
Input Demand and Employment by an Output Market Monopoly
Monopsony in Input Markets
The Income-Leisure Choice of the Worker
The Supply of Hours of Work
The General Level of Wage Rates and Why Wages Differ
Economic Rent
Monopoly Power in Input Markets: Unions
Week 11 Quiz
Week 12 - Can Government Intervention Improve Market Outcomes?
The Minimum Wage
Who Really Pays for Social Security?
The NCAA Cartel
The Benefits and Costs of Immigration
Three Conditions for Economic Efficiency
Reasons for Government Intervention
Externalities and Public Goods
Externalities
Externalities and Property Rights
Controlling Pollution, Revisited
Week 12 Quiz
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