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EC132: The Industrial Economy: Strategy

  • Daniel Sgroi

    Module Leader
15 CATS - Department of Economics

Principal Aims

This module aims to introduce students to firm behaviour including central questions such as why firms exist, what they can do better (and worse) than markets and how they compete. The course involves the use of descriptive, graphical and mathematical models (such as very basic game theory) twinned with topical examples. By the end of the course students should have a good grasp of how and why firms act as they do and will have a better understanding of related topical issues in the real world. The course also serves as a basic introduction to the field of industrial economics.

Principal Learning Outcomes

Understand why firms play an important role in modern economies, including why firms exist.The teaching and learning methods that enable students to achieve this learning outcome are: This is covered during the first few lectures of the course and supported by seminar questions.The summative assessment methods that measure the achievement of this learning outcome are: The exam typically includes at least one question relating to this part of the course. Understand how we model how firms price and position their products and how they interact and compete with each other.The teaching and learning methods that enable students to achieve this learning outcome are: This is covered in the final more technical part of the course and supported by seminar questions.The summative assessment methods that measure the achievement of this learning outcome are: The exam typically includes at least one question relating to this part of the course. Explain the problems that firms have to overcome (relating to cooperation and coordination) and understand different interpretations of firms’ role.The teaching and learning methods that enable students to achieve this learning outcome are: This is covered during the first few lectures of the course and supported by seminar questions.The summative assessment methods that measure the achievement of this learning outcome are: The exam typically includes at least one question relating to this part of the course. Understand the resources and assets firms use to generate and maintain profits such as innovation and reputation.The teaching and learning methods that enable students to achieve this learning outcome are: This is covered in the middle of the course and supported by seminar questions.The summative assessment methods that measure the achievement of this learning outcome are: The exam typically includes at least one question relating to this part of the course. Outline and analyse the reasons why firms might choose to merge and when this might happen.The teaching and learning methods that enable students to achieve this learning outcome are: This is covered in the middle of the course and supported by seminar questions.The summative assessment methods that measure the achievement of this learning outcome are: The exam typically includes at least one question relating to this part of the course.

Syllabus

The module will typically cover the following topics: What are firms and why do they exist; How firms compete; Analysis of strategy (using basic game theory)However, the module leader may add additional topics and sub-topics where appropriate.

Context

Part-year Availability for Visiting Students
Not available on a part-year basis

Assessment

Assessment Method
1.5 hour examination (Summer) (100%)
Coursework Details
1.5 hour examination (Summer) (100%)
Exam Timing
Summer

Exam Rubric

Time Allowed: 1.5 Hours.

Answer TWO questions ONLY. All questions are of equal weight (50 marks each). Answer each question in a separate answer booklet.

Approved pocket calculators are allowed.

Read carefully the instructions on the answer book provided and make sure that the particulars required are entered on each answer book. If you answer more questions than are required and do not indicate which answers should be ignored, we will mark the requisite number of answers in the order in which they appear in the answer book(s): answers beyond that number will not be considered.

Previous exam papers can be found in the University’s past papers archive. Please note that previous exam papers may not have operated under the same exam rubric or assessment weightings as those for the current academic year. The content of past papers may also be different.

Reading Lists