The module introduces students to the field of Industrial Economics and studies why and how firms and industries behave and interact with each other. Understanding firms' behaviour is relevant not only to the firms but also to the governments that design industrial policies in order to favour consumers without decreasing firms' efficiency.
The module is designed for students who have taken intermediate microeconomics and addresses issues that are present in everyday news: anti-competitive practices, the effect of market power on consumer welfare, incentives for product innovation, and the private and public effects of mergers.
Total contact hours: 16 hours
Private study hours: 134
Total study hours: 150
This is an elective module for all Single and Joint Honours Degree Courses in Economics.
The module is NOT available to students across other degree courses in the University
Online Test (20%)
Extended Essay (4000 words) (80%)
Reassessment methods: 100% coursework
Reading list (Indicative list, current at time of publication. Reading lists will be published annually)
Church, J and R. Ware (2000), Industrial Organization: A Strategic Approach, McGraw-Hill.
Lipczynski, J., Wilson, J. and J. Goddard (2013), Industrial Organisation: Competition, Strategy and Policy (4th ed.), Prentice-Hall.
Martin, S. (2010), Industrial Organization in Context, Oxford University Press.
Richards, D., Norman, G. and L. Pepall (2008), Industrial Organization: Contemporary Theory and Empirical Applications (4th ed.), Blackwell Publishing.
Tirole, J. (1997), The Theory of Industrial Organization (9th ed.), MIT Press.
See the library reading list for this module (Canterbury)
The intended subject specific learning outcomes.
On successfully completing the module students will be able to:
Explain how firms' decisions regarding price, advertising and R&D, etc. can be modelled and evaluate the impact of those decisions on the structure and performance of markets
Understand how firm behaviour affects economic welfare
Understand and apply concepts of game theory to the analysis of firm's strategic behaviour
Understand the growth of firms through vertical integration and merger activity
Identify and critically evaluate the implications of economic theory for the design, implementation and evaluation of industrial policies in the UK and other countries
The intended generic learning outcomes.
On successfully completing the module students will be able to:
Reflect critically on the application of economic models to real-world problems
Address an economic problem using deductive and inductive reasoning
Retrieve, review and utilise information from a variety of sources
Communicate coherent economic arguments verbally and in writing
Plan work and study independently
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