| Description: | In the age of globalization both domestic and foreign economic policies play an important role in determining firms' strategies. Understanding such policies is an essential part of the cultural background of managers at all levels of a firm. At the same time, market choices have a greater impact on economic policymaking in a global economy, as the range of alternatives open to them expands. The course focuses on analyzing both sides of this relationship. Special emphasis is placed on current issues: in policymaking on the basis of social choice principles and the normative and positive theory of economic policy; and issues concerning the establishment of international public institutions that can match the global reach of private institutions that generate many of today's economic challenges. The emphasis of the course will be in providing students with sound theoretical and empirical foundations for analyzing strategic behavior by firms and the implications for industrial structure, welfare and regulation. Applications will focus on recent developments in online markets, markets for digital products, and network industries - covering issues such as intellectual property rights, the Microsoft case, and access pricing in networks. |