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Network Economics and Finance 1

TLEN 5010
CREDITS: 3

Network Economics and Finance 1

Fall 2014


Scott Savage

TUE THU 9:30 AM - 10:45 AM
Classroom: ECCS 1B12

Description: 

Network Economics and Finance 1 introduces students to the fundamental theoretical framework and tools used by economists to examine decision making under scarcity. The course comprises five parts. Part I reviews mathematical economics and introduces game theory. Parts II and III examine consumer choice and firm supply, respectively. These two aspects of the market are brought together in Part IV to examine how price and output are determined in both competitive and imperfectly competitive markets. Part V introduces financial economics, network effects and public goods.

Outline: 

Part I: Introduction, Mathematics & game theory
Part II: Consumers
Part III: Firms
Part IV: Competition
Part V: Extra topics (intro to financial economics, network effects & public goods)

Objectives: 

Learn and apply the basic tools used by economists to understand how agents interact with one another, how they make optimal decisions, and how markets are organized.

Become comfortable using diagrams, algebra, calculus and other mathematical concepts to develop economic models for use in an applied setting.

Develop oral and written communication skills with classroom interaction, homework assignments and examinations.

Use theory and intuition to explain some of the economic behaviour observed in networks and telecommunication markets.

Provide a foundation for more advanced ITP courses such as TLEN5240 Law & Regulation and TLEN 5020 Network Economics & Finance 2.

Textbooks: 

Intermediate Microeconomics and Its Applications, 11th edition, by Walter Nicholson and Christopher Snyder, 2009, South-Western, Mason, Ohio, ISBN: 0324599102.

Example Lecture: 

View an example course lecture

Proctor: 

Required

Syllabus: 

TLEN 5010