EHL Course Catalogue 2011-2012 - Ecole Hôtelière de Lausanne
EHL Course Catalogue 2011-2012 - Ecole Hôtelière de Lausanne
EHL Course Catalogue 2011-2012 - Ecole Hôtelière de Lausanne
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8113BR – Microeconomics<br />
40 hours of contact – 4 US quarter credits - 5 ECTS credits<br />
� Summary<br />
This unit gives an overview of key microeconomic topics: supply, <strong>de</strong>mand and market-price setting;<br />
price-elasticity of <strong>de</strong>mand and supply; types of market structure (competition, monopoly, cooperative<br />
and non-cooperative oligopoly); cost structure; game theory; externalities. Most of the analyses will<br />
hinge on the central assumption that firms aim to maximize profit.<br />
� Objective<br />
On successful completion of this course, stu<strong>de</strong>nts should be able to i<strong>de</strong>ntify the main <strong>de</strong>terminants of<br />
the price of goods, services and production factors by type of market; Assess the impact of cost<br />
structure on price-setting and on a firm‟s business strategy; Discuss the relevance of measures<br />
imposed on the market by the government inten<strong>de</strong>d to counterbalance externalities (mainly<br />
environmental cost) caused by production and consumption.