Offered
Clayton Second semester 2008 (Day)
Synopsis
Theories of the firm, contract, property rights structure, market structure, hierarchy, bargaining, principal-agent relationship, research and development, advertising, and entry, exit, and pricing strategy. The equilibrium implications of the internal organisation of a firm and the organisational structure of the market in relation to strategic interactions between agents, information problems and related incentive mechanisms. Basic game theory and concepts of game equilibrium applied to the analysis of opportunistic behaviour and related transactions costs.
Assessment
Within semester assessment: 30%
Examination (3 hours): 70%
Contact hours
Three contact hours per week
Prohibitions
ECC4840
