EC943: Industrial Economics
Minh Tung Le
Module Leader
Principal Aims
The aim of this module is to provide concise coverage of a range of central topics in industrial economics, first building a framework of oligopoly then adding to that framework, so bringing the models closer to life. Consequently, the student will gain an appreciation of the key ideas underlying the subject, on which they can build or develop as necessary. The approach involves a mixture of models and empirical examples throughout, including a flavour of the predominant techniques in current empirical work.
Principal Learning Outcomes
Subject Knowledge and Understanding:...demonstrate a thorough understanding of the theoretical foundations of industrial economics. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, independent study. The summative assessment methods that measure the achievement of this learning outcome are: Report and problem sets
Subject Knowledge and Understanding:...demonstrate a significant understanding of empirical applications of industrial economics. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, independent study. The summative assessment methods that measure the achievement of this learning outcome are: Report
Subject Knowledge and Understanding:...demonstrate an ability to apply industrial economic concepts to particular examples. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, independent study. The summative assessment methods that measure the achievement of this learning outcome are: Report and problem sets
Syllabus
The module will typically cover the following topics:
• Oligopoly models: strategic behaviour amongst a given set of firms;
• Developments of the basic oligopoly models;
• Horizontal and vertical product differentiation;
• Various forms of price discrimination; two-part tariff, bundling, yield management, dynamic pricing;
• Sequential and non-sequential search model; Switching; Search and Switching in Oligopolistic Market;
• Bounded Rationality: Sampling; Loss-Aversion in Menu Design.
Context
- Optional Module
- L1P6 - Year 1
- Pre or Co-requisites
- The module will build on some aspects of your knowledge of microeconomics including elementary game theory. In addition it assumes some knowledge of econometrics.
Assessment
- Assessment Method
- Coursework (20%) + In-person examination (80%)
- Coursework Details
- In-person examination (80%) , Problem Set 1 (10%) , Problem Set 2 (10%)
- Exam Timing
- May
Exam Rubric
Time Allowed: 2 Hours
Read all instructions carefully - and read through the entire paper at least once before you start entering your answers.
There are TWO sections in this paper. Answer TWO questions in Section A (30 marks each) and ONE question in Section B (40 marks).
Answer each whole question in a separate booklet.
Approved scientific (non-graphical) pocket calculators are allowed.
You should not submit answers to more than the required number of questions. If you do, we will mark the questions in the order that they appear, up to the required number of questions in each section.
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.