Business Economics

Bus 247
Queens College
Summer 2016
Professor Bradbury
Contact:
mathew.bradbury@qc.cuny.edu
Office: 300-J

Business Economics
Course Description
The course covers the important and complicated interaction between business and economics. The particular focus
of the class addresses under what conditions profit making activity leads to socially optimal outcomes. Topics covered will
include market structure, game theory, value creation and industry analysis.

Required Text:(Wait until our first day discussion before buying the text)
Besanko, David. Dranove, David. Shanley, Mark. Schaefer, Schoot. Economics of Strategy.
6ed. Wiley. 2010
Course Requirements:
Midterm: 40%
Final: 40%
Homework, quizzes and class participation: 20%
Policies:

No make up exams will be given unless the student has medical proof that they were unable to take the exam at the
specified time. Late assignments of any kind will not be accepted. Please make arrangements with a peer in class who
may turn in your assignments in your stead if you expect to be absent.
All assignments must be turned in typed in order to receive credit. Portions of the assignment may be hand written. This
portion is usually excluded to graphs.
The professor will make no accommodation for the students decision to miss class. Accommodations may include but
not be limited to accepting assignments, providing information and notes as to course content that a student has missed
or reiterating changes that have been made to the course policies or content.
Academic misconduct of any kind will not be tolerated and may lead to expulsion from the class and other more severe
penalties.
The instructor seeks to make every effort to provide adequate services to students with disabilities. However it is the
students responsibility to make the instructor aware of necessary accommodations. Informing the professor as to special
needs within the first week of class is recommended.
The professor reserves the right to change any information included in this syllabus at his discretion. The professor will
take reasonable measures to ensure the student has opportunity to be informed about changes should they be made.
Reasonable efforts may include discussing the changes in class and/or posting notification of changes on the course
website. However, it is the students responsibility to be aware of these changes if they are made.

Course Outline
Section I: Firm Costs and Competition.

Firm costs structure and goals

Perfectly competitive models/ Monopoly models
Cartels, and Oligopoly: Bertrand models (game theory)
Product differentiation and monopolistic competition.

Section II: Business Practices and Strategy

Industry Analysis
Economics of Strategy
Sustaining Competitive Advantage
Origins of Competitive Advantage
Other topics