15.010 / 15.011 Economic Analysis for Business Decisions

Fall 2004

Buyers and sellers interact through exchange at the price/terms of trade.
But what is a market, really? A place? A product or service? Which sellers? Which buyers? (Graphic by Professors Stoker, Doyle, Chapman, and Berndt.)

Course Highlights

This course features a full set of lecture and recitation notes with associated assignments, including solutions and common mistakes.

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Course Description

15.010 is the Sloan School's core subject in microeconomics, with sections for non-Sloan students labeled 15.011. Our objective is to give you a working knowledge of the analytical tools that bear most directly on the economic decisions firms must regularly make. We will emphasize market structure and industrial performance, including the strategic interaction of firms. We will examine the behavior of individual markets -- and the producers and consumers that sell and buy in those markets -- in some detail, focusing on cost analysis, the determinants of market demand, pricing strategy, market power, and the implications of government regulatory policies. We will also examine the implications of economics on other business practices, such as incentive plans, auctions, and transfer pricing.

*Some translations represent previous versions of courses.

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Prof. Ernst Berndt
Prof. Michael Chapman
Prof. Joseph Doyle
Prof. Thomas Stoker

Course Meeting Times

Two sessions / week
1.5 hours / session

One session / week
1 hour / session