By the end of this chapter, you should understand:

1. imperfect competition, oligopoly and monopolistic competition
2. how cost and demand affect market structure
3. how globalization changes domestic market structure
4. equilibrium in monopolistic competition
5. the tension between collusion and competition in a cartel
6. game theory and strategic behaviour
7. the concepts of commitment and credibility
8. reaction functions and Nash equilibrium
9. Cournot and Bertrand competition
10. Stackelberg leadership
11. why there is no market power in a contestable market
12. innocent and strategic entry barriers