What will you learn and implement? How to introduce imperfect competition. 1. Introduction: Imperfect competition - why bother? 2. Alternative models of imperfectly competitive firm conduct 2.1. Models with intra-industry product homogeneity 2.1.1. Cournot oligopoly 2.1.2. Conjectural variations 2.2. Models with intra-industry product differentiation 2.2.1. Love of variety: The algebra of Dixit-Stiglitz preferences 2.2.2. Monopolistic competition 2.2.3. Bertrand oligopoly 2.2.4. Cournot oligopoly. 3. Practical Computer Lab exercises 3.1. Introducing imperfect competition and increasing returns into "EcoMod10" 3.1.1. Modifications of the GAMS code 3.1.2. Calibration of the additional model parameters 3.1.3. Reporting industrial organization effects 3.1.4. Simulations of a tax policy shock under alternative assumptions about firm conduct 3.2. Open economy extensions.
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