E-LEARNING APPLICATION IN TEACHING OF THE BERTRAND PRICE MANAGEMENT OLIGOPOLY

摘要

This paper analyzes how E-learning and non-E-learning techniques affect the comprehension of the complex microeconomic theories such as Betrand equilibrium. Bertrand equilibrium is chosen for the analysis since it describes many oligopolistic markets, on which companies try to earn extra profits by entering small market niches and managing the price in a non-cooperative way. The findings show that 82%of the students who were taught using E-learning techniques had a full understanding of the Bertrand model, as opposed to the 55% of the non-E-learning students. It suggests that an average economics student is more receptive to the graphical and intuitive representation than to the algebraic proofs and deductions.