ECON2005 Industrial Economics 2
In this module we study the working of imperfectly competitive markets, the behaviour of firms in these markets, welfare implications and competition policy.
Aims and Objectives
To provide an understanding of the behaviour of firms and the nature of competition in a market economy.
Having successfully completed this module you will be able to:
- Demonstrate knowledge and understanding of the nature of strategic competition and its implications for policy
- Demonstrate knowledge and understanding of a set of analytical techniques which can be applied to a variety of economic (and non-economic) problems.
In most markets, firms need to be aware of their rivals, and even potential rivals, when making decisions. In other words, they must act strategically. We will analyse strategic decision making on prices, product specifications, and investments which will be relevant to anyone with an interest in corporate strategy. But our concern will extend beyond the firms concerned, to the implications for welfare more generally. The module thus begins with a discussion of competition policy in the UK, the European Union and the USA. Throughout the module, theoretical and empirical analysis will be linked to contemporary and classic cases.
Learning and Teaching
|Total study time||150|
Resources & Reading list
Modern Industrial Organization.
The Theory of Industrial Organization.
Industrial Organization: A Strategic Approach.
|Exam (2 hours)||90%|
Repeat type: Internal & External
Prerequisites: ECON1001 or ECON1003