Economic Design - Industry (ECON90078)

Economic design is the part of economics that helps to shape the rules that govern the interactions among people and to determine the outcomes of these interactions. It comprises of a collection of tools and principles from several disciplines, such as game theory, market design, mechanism design, industrial organization, experimental economics, econometrics and big data analysis.

Economic design has several applications in the industry, from professionals who use it to improve the functioning of their organizations (examples include optimal contract design, pricing strategies, generating and analysing economic data, and so on), to entrepreneurs who use it to mitigate market failures.

The subject is part of the "Specialist Certificate in Economic Design" and it is tailored for industry professionals and entrepreneurs. It consists of eight selected topics that cover a variety of marketplace typologies and allocation mechanisms, introduce the participants to strategic thinking, and present cutting edge experimental and “big data” techniques.

Each topic is delivered by an expert in the theory and practice of that topic, and aims to enable the participants to understand and improve market mechanisms and outcomes, and to educate and train them towards independently identifying and addressing market failures.