This course will focus on developing students' appreciation of the role of entrepreneurs and technological advance in economic growth. Through case studies, students will learn about new business models that have been developed in the digital age and the sharing economy, and apply economic analysis to understand how these differ from traditional competitors and the industries that have been disrupted. Students will learn that in order to determine how a new enterprise can compete in an existing industry and whether profits can be sustained over a long period of time, entrepreneurs need a solid understanding of entry and exit conditions, cost structures, comparative advantage, and competitive strategies under different market structures. This course is designed for students from all majors and backgrounds, understanding that the complex problems facing the world today require innovative solutions from a variety of perspectives.

Prerequisite: ECON1010 or (ECON1020 and ECON1030)