Business Economics and Game Theory for Decision Making
Master economic concepts and game theory for strategic decision-making in business. Optimize pricing and market strategies.
Master economic concepts and game theory for strategic decision-making in business. Optimize pricing and market strategies.
Dive into advanced business economics and game theory with this comprehensive course designed for strategic decision-makers. Explore crucial concepts like price elasticity, market power, and game theory to enhance your business acumen. Learn to optimize pricing strategies, analyze market interventions, and navigate competitive landscapes. This course equips you with powerful tools to make informed decisions, maximize profitability, and gain a competitive edge in dynamic business environments. Ideal for professionals seeking to deepen their understanding of economic principles and strategic interactions in the marketplace.
4.8
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What you'll learn
Develop a deep understanding of price elasticity and its applications in pricing strategies
Analyze the implications of market interventions on various stakeholders
Identify sources of market power and optimize pricing for profit maximization
Apply market segmentation techniques for effective price customization
Understand oligopolistic competition and its impact on business strategies
Master key concepts in game theory for strategic decision-making
Skills you'll gain
This course includes:
7.5 Hours PreRecorded video
21 assignments
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FullTime access
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There are 6 modules in this course
This course provides an in-depth exploration of business economics and game theory for strategic decision-making. Students will delve into crucial concepts such as price elasticity of demand, market power, and game theory applications in business contexts. The curriculum covers optimal pricing strategies, market interventions, oligopolistic competition, and strategic interactions among firms. Through a combination of theoretical frameworks and practical case studies, learners will develop the analytical skills necessary to navigate complex business environments. The course emphasizes the application of economic principles to real-world scenarios, enabling students to make informed decisions on pricing, market segmentation, and competitive strategies. By integrating game theory concepts, the course equips participants with tools to analyze and predict outcomes in various strategic interactions, enhancing their ability to formulate effective business strategies in competitive markets.
Price Elasticity of Demand
Module 1 · 6 Hours to complete
Policy; Winners and Losers from Intervention; Influencing Policy
Module 2 · 8 Hours to complete
Pricing with Market Power
Module 3 · 7 Hours to complete
Competing with Market Power
Module 4 · 6 Hours to complete
Game Theory
Module 5 · 9 Hours to complete
Summative Course Assessment
Module 6 · 3 Hours to complete
Fee Structure
Payment options
Financial Aid
Instructors
Distinguished Economist and Academic Leader
Liad Wagman holds the prestigious John and Mae Calamos Dean Endowed Chair and is a professor of economics at the Stuart School of Business at Illinois Tech. He serves as an Academic Affiliate at the Office of Global Services for Law and Economics and has held numerous significant positions, including Senior Economic and Technology Advisor at the Federal Trade Commission’s Office of Policy Planning and Competition Fellow at the Data Catalyst Institute. His academic contributions include roles as a Visiting Associate Professor at Northwestern University's Kellogg School of Management and a Visiting Scholar at Duke University's Economics Department. Additionally, Wagman has been involved in research at the Duke University Computer Science Department and the Social Sciences Research Institute, and he worked at the Center for International Security and Cooperation at Stanford University. He has received several accolades, including the Program for Advanced Study in the Social Sciences Fellowship, the Education and Research Initiative Award, the Institute of Industrial and Systems Engineers Best Paper Award, and the Outstanding Paper Award at the International Conference on Artificial Intelligence.
Associate Professor of Economics
Priyanka Sharma is an Associate Professor of Economics at the Illinois Institute of Technology’s Stuart School of Business. She earned her Ph.D. in Economics from Texas A&M University (USA) and holds an M.A. in Economics from the Delhi School of Economics (India) as well as a B.A. (Honors) in Economics from the University of Delhi (India). Her research and teaching interests focus on industrial organization and applied microeconomics.
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4.8 course rating
20 ratings
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