Economics: Competition, Elasticity, a little Game Theory
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Original price was: $84.99.$14.99Current price is: $14.99.
Disclosure
What you’ll learn
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Apply Game Theory to decide whether to be adversarial or co-operative in real-life situations
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Determine how best to price products or services that you are selling
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Decide the kind of cost structure a firm or enterprise should have, relative to its competitive landscape
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Model demand, supply and the effects of income, government regulations and technology
This is a zoom-in, zoom-out, connect-the-dots tour of Game Theory, Competition and the Elasticity of Demand andSupply.
Let’s parse that
- ‘connect the dots’: Economics is deep – even the simplest concepts in Micro-Econ 101 are missed by leaders in business and politics, and commit basic errors in judgment. This course makes sure that won’t happen to you.
- ‘zoom in’: Getting the details is very important in economics – you really have to understand the nitty-gritty of graphs and intersecting curves and lines. There is a lot of meaning in those details
- ‘zoom out’: The real value of economics, particularly microeconomics, is in taking seemingly over-simplified models, and then applying insights from those over-simplified models to the world at large. This course makes sure you can go from the specific to the general.
What’s Covered:
- Game Theory: Discounting and price wars, Prisoner’s dilemma and nuclear arms races, Winner-takes-all games and the commercialization of sport.
- Competition: Perfect competition, monopoly and monopolistic competition
- Firm Costs: The deep meaning underlying total and marginal costs, and the least-cost principle
- Utility and Consumer Equilibrium: Indifference curves, and relating price and value. Income effects, and deriving Demand curves from indifference curves
- Applications of Elasticity: Modeling taxes, the troublesome economics of agriculture, minimum wages.
- Elasticity, Demand and Supply: Defining and using elasticity. Linear Demand Curves and a neat trick. Demand and Supply demystified.
Who this course is for:
- Yep! Business majors and aspiring MBAs
- Yep! Finance professionals who are rusty on economics, and its role in how firms compete and operate
- Yep! Strategy professionals looking for a theoretical grounding in concepts like game theory and elasticity
- Yep! Aspiring entrepreneurs eager to understand how to react to competition
8 reviews for Economics: Competition, Elasticity, a little Game Theory
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Economics: Competition, Elasticity, a little Game Theory
Original price was: $84.99.$14.99Current price is: $14.99.
David Morgan –
Video production is very well done.
Travis Greene –
The course is actually better than I expected. I really wasn’t sure what to expect here since it was my first Loonycorn course. I think overall the concepts are explained pretty well. If they could include real practice problems after each section, I would increase my score to a 4.5. Also, it would be nice to have subtitles, since in some parts I found it difficult to understand his pronunciation. So all in all, if you’re looking for a relatively quick overview of microeconomics, this is a pretty good buy. You probably won’t be able to solve any textbook problems after this course, but it will give you the basic conceptual understanding to possibly open up a textbook and begin to teach yourself. A solid conceptual (not computational) intro to economics. So ways to make this better? Add 5 textbook problems after each section and include detailed solutions. Add more real case studies from the news to highlight applications of the ideas.
Teemu Kanstren –
I guess I got the title wrong since I figured it was maybe about game theory using economics as an example domain. It is more about micro-economics, supply, demand, the basic things. Explanations for that are fine. Game theory is a small side item at the end. Maybe description could better describe this focus. For the price can’t complain though..
Graham Stoate –
Loony Corn’s courses are always well researched and I have bought a number of them.
Keith Emery –
Well-explained, lots of examples, good pace.
Pradeep Singh –
insight in economics
Aaron Roan –
Difficult to understand (language). Poor examples in many cases.
Megha Jain –
Yes, I have learnt a lot of things in the course. Had some confusions in elasticity though. Nonetheless, it was a good experience till now. Thank you.
Overall a great learning! Thanks once again