ERIC BUDISHCOMPETITIVE STRATEGYPhone: 773.702.8453 Business 42001 [email protected] Winter 2017 SYLLABUS A.COURSE OVERVIEWWe will apply tools from microeconomics and game theory to the analysis of strategic decision making by firms. Specific topics covered include the sources of industry and firm profitability, strategic positioning, sustainable competitive advantage, the boundaries of the firm, incomplete contracts, horizontal and vertical integration, strategic commitment, strategic cooperation, dynamic pricing, entry and exit, network effects, and platform markets. My goal in the class is to get students to think like an economist about firm strategy. The course is designed for students who are very comfortable with microeconomics at the level of 33001. Classes will combine case analysis and discussions with lectures. B. TEACHING ASSISTANTS AND OFFICE HOURSThe teaching assistants for this class are 42001-01 (Mon Aft): Stephen Suellentrop ([email protected]) 42001-81 (Mon Eve): Katherine Cromer ([email protected]) 42001-02 (Tues Aft): Trisha Bakshi ([email protected]) You should feel free to contact either me or your section’s teaching assistant if you have any questions about the material or comments about the class. My faculty assistant is Stephen Lamb ([email protected]). Please direct administrative questions (e.g., scheduling) to your section’s teaching assistant or my faculty assistant. My office hours are by appointment. Tuesdays are typically best. Please send appointment requests to Stephen copying me. C.COURSE MATERIALS•Cabral, Luís. Introduction to Industrial Organization, MIT Press. •Dixit, Avinash and Barry Nalebuff. The Art of Strategy, Norton. (The 2008 hardcover edition and the 2010 paperback edition have identical content and pagination, so choose either one.) •Academic articles, news articles, and case studies on the course’s Canvas website (all under “Pages”). •Lecture slides and case wrap-up slides on the course’s Canvas website (all under “Pages”).
2 The textbook Introduction to Industrial Organizationcovers most of the core economics that we will use in the course. This book is valuable as a complement to lectures and should serve as a useful reference throughout the quarter. The book also reviews material from micro, which is a prerequisite for the course. The book The Art of Strategy provides an accessible and engaging discussion of key ideas in game theory and their application to strategy. Among other strengths, this book has many real-world examples and puzzles that are great for sharpening your strategic thinking. You are responsible for all assigned readings and everything brought up in class, both in lectures and cases. Lecture slides will be posted before class each week and hard-copy handouts of slides will be distributed in class. Case wrap-up slides will be posted after class each week.
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- Fall '15
- Game Theory, Cabral, case wrap-up slides