Who should attend
This class is designed for anyone who wants to understand different types of markets and how to appropriately price products in those markets. It will especially benefit leaders who need to develop their knowledge of economics to better lead in their organization or team.
About the course
In this class, you will tackle some big questions: What is value? What is the role of markets in creating value? How do prices guide the behavior of companies and individuals? The answers will give you insights into the role of business in a free enterprise economy and the conditions under which markets serve people’s interests. Along the way, we’ll be pulling out important insights for managerial practice, and we’ll liven things up with examples from Professor Schaefer’s Roadside MBA Project.
What is Value
- Willingness to Pay
- Value, Customer Surplus, and Producer Surplus
Value and Market Structure
- Competitive Markets
- Monopoly and Monopsony Markets
- Oligopoly and Oligopsony Markets
Competitive Markets: Demand, Supply, and Equilibrium
- Heterogeneous Preferences and Demand Curves
- Diseconomies of Scale and Supply
Competitive Markets: How Prices Guide Behavior
- Scarcity: When the Supply Curve Shifts
- Excess Demand to New Equilibrium
- Recognize and create value
- Identify market structures
- Understand how prices guide decisions
- Empower leaders to grow within teams
- Recognize and react to market changes
- Set prices based on supply and demand
Scott Schaefer is Professor of Finance and David Eccles Faculty Fellow at the University of Utah's David Eccles School of Business. He is also an Investigator with the Institute for Public and International Affairs at the University of Utah. Professor Schaefer joined the Eccles School faculty in...
Because of COVID-19, many providers are cancelling or postponing in-person programs or providing online participation options.
We are happy to help you find a suitable online alternative.