This lesson covers some really important theory for oligopolies. The lesson will help students understand how game theory and prisoners’ dilemma impacts an oligopoly and the various pricing strategies that oligopolistic markets may use. The lesson includes various tasks, examples and clear theory and links to various video clips to help consolidate the learning. The first part of the lesson has the following learning objectives:
* All Students will understand how game theory works and how it impacts oligopolies
* Most Students will understand how prisoners’ dilemma can cause issues for oligopolies.
The second part of the lesson covers the following learning objective:
* All Students will understand that the various pricing strategies for oligopolies.
The lesson concludes with a past paper style question. I have included both a teacher and student copy of the lesson and have included a nice worksheet to work alongside a great video link. This lesson is perfect for Economics and aims to tackle a tough topic.