1 MECN 6200: Global Competition and Market Dominance Note: This is the text-only version of this week’s lecture.All media (i.e. videos, flash presentations, and PowerPoints) and learning activities (i.e. assigned readings, assignments, and discussions) are accessible only through the online course. Week 3: The Goods and Money Market then Behavior of Firms in the Economy Overview Log in to the course to view video and alternative version.Click the link below to access a transcript of the video. Video Transcript Introduction This week, you will accomplish five things: 1. You will learn about how the market for goods and the market for money reach a joint equilibrium. 2. You will study international macroeconomic crises. 3. You will review how your business can stay one step ahead of economic changes. 4. You will take the first exam which tests you on the material covered so far. 5. You will begin to study the characteristics and behaviors of the firm. You have seen that the goods market, among other forces, is affected by interest rate levels. These primarily influence the level of investment, both by businesses and by consumers in homes. Similarly, you saw how the money market, among other forces, is affected by the level of income. This simultaneity and how it is resolved is part of our study this week. Then we turn to the portion of the course referred to as market dominance which is the study of companies and how they prosper or fail. Learning Objectives After completing this week, you will be able to: Predict how various policies will impact interest rates, inflation, the value of the dollar, and GDP. Understand how firms choose plant size. Predict whether a merger will be subject to governmental approval.
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