This module aims at developing an understanding of a range of business pricing and related practices viewed through the lens of economics. Thus it aims to move from abstract modelling to explaining and understanding more practical phenomena.
Principal Learning Outcomes
By the end of the module students will be able to understand the possibilities of and constraints in pricing differently to different groups of consumers, including those with differential knowledge of prices. Also to understand reasons for and constraints on vertical relationships between activities, and the nature of technical change; understand the extent to which models in the above areas receive support from empirical studies; refine their development of modelling practices; have an appreciation of how to structure an argument and analysis; work in groups to achieve a desired outcome.
The module will typically cover the following topics:
Models of search and of switching behaviour and their implications; advertising, quality disclosure and acquisition. Price discrimination between consumers, including self-selection of tariffs; bundling of products, models of revenue management; auction mechanisms for selling goods and services. Vertical integration, vertical restraints and franchising; vertical linkages in electricity.
- Core Module
- L116 - Year 2, L117 - Year 2
- Optional Module
- LM1D (LLD2) - Year 2, LM1D (LLD2) - Year 3, V7ML - Year 2, V7ML - Year 3, V7MM - Year 4, V7MP - Year 2, V7MP - Year 3, L1P5 - Year 1, L1PA - Year 1, V7MR - Year 2, V7MR - Year 3, LM1H - Year 4, LA99 - Year 2, LA99 - Year 3, L1L8 - Year 2, L1L8 - Year 3, R9L1 - Year 4, R3L4 - Year 4, R4L1 - Year 4, R2L4 - Year 4, R1L4 - Year 4, L100 - Year 2
- Pre or Co-requisites
- EC208 for all students except L100
- May not be combined with EC335
- Part-year Availability for Visiting Students
- Available in the Spring term only (1 x problem set and 1 x 1200 word essay – 12 CATS) and in the Spring and Summer terms together (1 x problem set and 1 x 1200 word essay and 1 x 2 hour exam – 15 CATS)
- Assessment Method
- Coursework (20%) + 2 hour exam (80%)
- Coursework Details
- 1 problem set (worth 10% and one assignment (1200–word essay) (10%)
- Exam Timing
Time Allowed: 2 hours.
Answer TWO questions from Section A (60 marks total) and ONE question from Section B (40 marks). Answer Section A questions in one booklet and Section B questions in a separate 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.