In this module we study the working of imperfectly competitive markets, the behaviour of firms in these markets, welfare implications and competition policy.
Prerequisites: ECON1001 OR ECON1003
Aims and Objectives
Having successfully completed this module you will be able to:
- Demonstrate knowledge and understanding of a set of analytical techniques which can be applied to a variety of economic (and non-economic) problems.
- Demonstrate knowledge and understanding of the nature of strategic competition and its implications for policy
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
Teaching and learning methods
Lectures and Tutorials
|Total study time||150|
Resources & Reading list
Tirole, Jean (1988). The Theory of Industrial Organization. Cambridge Massachussetts: MIT press.
Church, Jeffrey and Roger Ware (2000). Industrial Organization: A Strategic Approach. London: McGraw-Hill.
Carlton, Dennis W. and Jeffrey M. Perloff (2005). Modern Industrial Organization. London: Pearson/Addison Wesley.
Long take-home 70%
This is how we’ll formally assess what you have learned in this module.
This is how we’ll assess you if you don’t meet the criteria to pass this module.
An internal repeat is where you take all of your modules again, including any you passed. An external repeat is where you only re-take the modules you failed.
Repeat type: Internal & External