Theory of the Firm - A Microeconomics Course for Business

Unlock the Secrets of Pricing Strategies with Managerial Economics

Ever wondered how businesses determine the right price for their products? This course, led by Brad, dives into the core of Managerial Economics, also known as the Theory of the Firm, providing a practical understanding of decision-making crucial for success in any business – from startups to large corporations. We call it "Micro-Microeconomics" because it zeroes in on the specific strategies businesses employ to thrive in diverse market structures.

Whether you're a small business owner looking to optimize your pricing or a professional in a multinational corporation seeking a deeper understanding of market dynamics, this course equips you with the knowledge to make informed pricing decisions.

Here's what you'll learn:

• Introduction to the Theory of the Firm: Build a solid foundation in economic principles.
• Cost Theory: Understand the factors influencing your costs and how they impact product pricing.
• Revenue Theory: Learn how to maximize your revenue and its role in setting prices.
• Profit Theory: Discover how to guide your business decisions with a focus on profitability.
• Combining Costs, Revenue, and Profit: Master the process of finding the optimal price point.
• Market Structures: Explore the nuances of different market environments:
  • Perfect Competition
  • Monopoly
  • Monopolistic Competition
  • Oligopoly
• Pricing in Different Market Structures: Understand the magic of setting the perfect price based on your firm’s market position.

Beyond the technical aspects, this course explores the human element of economics – how economic principles shape our decisions and interactions. We believe a strong grasp of economics provides valuable insights into the human condition.

Weekly Bonus:

As a student, you'll receive a weekly newsletter, "Just One Thing," delivering a concise, two-minute breakdown of a key economic concept each Monday. It’s a simple way to continually expand your understanding of the world.

Brad brings a global perspective to his teaching, drawing on experiences as a Peace Corps Volunteer, education at Duke University, and travel to over 55 countries. This allows for real-world examples and makes complex concepts accessible.

Join us and embark on a journey to master pricing strategies and gain a deeper appreciation for the power of Managerial Economics!