Economic Foundations of Pricing

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Week1 : Economic foundations of Pricing
1. What is market clearing price?
2. Understand price setters vs price takers, supply and demand curves.
3. Covid price increases/decreases/no-change

Week 2: Fundamentals of Demand or Customer point of view
1. What is demand?
2. Price response functions
3. Revenue maximization
4. Elasticity

Week 3: Cost based pricing decisions
1. Terms: (marginal cost, fixed cost, incremental cost), CM, operating margin, %margin, mark-up
2. Price optimization
3. Break-even sales change

Week 4: Competition and Objectives
1. Competition based heuristics
2. Understanding objectives and economic framework

Week 5: Economics of Multiproduct Pricing
1. Demand curves and pricing
2. Price discrimination
3. Game theory
4. Auctions

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