The module aims to provide an understanding of how theories from industrial economics can help one comprehend the behaviour of firms in imperfectly competitive markets. It also aims to give some guidance as to how researchers use real-world data to test those theories.
Principal Learning Outcomes
Students should achieve an understanding some of the most important theories concerning the organisation of industries and the behaviour of firms within those industries. They should understand how people have tested the theories in the context of real-world situations and have some appreciation of how industrial economics can contribute to economic policy with respect to imperfectly competitive markets.
The module will typically cover the following topics:
Oligopoly models: strategic behaviour amongst a given set of firms; Developments of the basic oligopoly models; Modelling entry and concentration; Horizontal and vertical product differentiation; Empirical modelling of differentiated product markets; Cartels and tacit collusion; Strategic incumbents and entry; Vertical related markets; Markets with network goods.
- 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 Method
- Coursework (10%) + 2 hour exam (90%)
- Coursework Details
- Problem set
- Exam Timing
Time Allowed: 2 Hours
Answer THREE questions: AT LEAST ONE question must be from Section A and AT LEAST ONE question must be from Section B. All questions carry equal weight.
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.