The General Conjectural Model of Oligopoly - Some Classical Points Revisited

My excuse for going into this topic is that I - as many of the readers - from time to time have to teach oligopoly theory. Although non specialists in the field, we have to take up problems on how to present the theory, pick out what we consider to be the important points and criticise popular misunderstandings and misinterpretations. Some of these points are more relevant when teaching on an elementary or intermediate level. When teaching at advanced level we can often use recent research - material more directly.