The Value of Economics: How (and How Well) do Markets Work

David Eccles School of Business

How long?

  • online
  • on demand

What are the topics?

David Eccles School of Business

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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

Personal Impact

  • Recognize and create value
  • Identify market structures
  • Understand how prices guide decisions

Organizational Impact

  • Empower leaders to grow within teams
  • Recognize and react to market changes
  • Set prices based on supply and demand

Experts

Scott Schaefer

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...

The Value of Economics: How (and How Well) do Markets Work at David Eccles School of Business

From  $350

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Disclaimer

Coursalytics is an independent platform to find, compare, and book executive courses. Coursalytics is not endorsed by, sponsored by, or otherwise affiliated with any business school or university.

Full disclaimer.

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