Programmes

Industrial Organisation & Introduction to Competition Policy

  • Summer schools
  • Department of Economics
  • Application code SS-EC341
  • Starting 2019
  • Short course: Open
  • Location: Houghton Street, London

Industrial organisation is concerned with the use of economic analysis in studying competition between firms and the evolution of market structure. This course will focus on understanding the way firms make decisions and the effects of those decisions on market outcomes like prices, quantities, the type of products offered, and social welfare.

Over the past decade, this has been one of the most exciting areas of economics, as a new generation of game-theoretic models have provided us with new ways of analysing a range of practical issues, and addressing some long-standing empirical questions.

The topics covered in this course span a wide range of issues, from predatory pricing to cartel stability, and from the role of non-price competition to the evolution of high technology industries.

The theoretical models introduced in the lectures will be applied in classes devoted to case studies of specific industries and to some antitrust court cases.

Readings and class discussions will provide background and introduction to a variety of topics, many of which will be covered in lecture in greater depth. The theoretical models introduced in the lectures will be supplemented with case studies of specific industries. An introduction to Competition Policy issues will also be discussed.


Session: Two
Dates: 8 July – 26 July 2019
Lecturers: Dr Pasquale Schiraldi and Dr Maris Goldmanis 


 

Programme details

Key facts

Level: 300 level. Read more information on levels in our FAQs

Fees:  Please see Fees and payments

Lectures: 36 hours 

Classes: 18 hours

Assessment*: Two written examinations

Typical credit**: 3-4 credits (US) 7.5 ECTS points (EU)


*Assessment is optional

**You will need to check with your home institution

For more information on exams and credit, read Teaching and assessment

Prerequisites

Intermediate microeconomics, and knowledge of differential calculus.

Programme structure

  • Introduction to Industrial Economics
  • Monopoly Price Discrimination and Quality Discrimination
  • Regulatory economics:
  • Introduction to Game Theory
  • Dynamic Games: Finite horizon                
  • Differentiated Products Models
  • Entry Deterrence, Limit Pricing, and Strategic Investment            
  • Market Structure
  • Dynamic Games: Infinite horizon             
  • Mergers, Vertical Relations        
  • Markets with Asymmetric Information
  • Auctions   

Course outcomes

The goals of the course include development of intuition for pricing and other strategic behaviour by firms, and development of skills for analysis of formal models. 

It will provide the essential knowledge required to pursue the answer to fundamental questions such as: Why are markets organized the way they are? How do the ways in which a market is organized affect firms' behaviour? How does the behaviour of firms affect the structure of markets and market outcomes?

The course also aims to deliver a higher level understanding of predatory pricing, cartel stability, the role of non-price competition, and the evolution of high technology industries.

Teaching

The LSE Department of Economics is one of the biggest and best in the world, with expertise across the full spectrum of mainstream economics. A long-standing commitment to remaining at the cutting edge of developments in the field has ensured the lasting impact of its work on the discipline as a whole. Almost every major intellectual development within Economics over the past fifty years has had input from members of the department, which counts ten Nobel Prize winners among its current and former staff and students. Alumni are employed in a wide range of national and international organisations, in government, international institutions, business and finance.

The Department of Economics is a leading research department, consistently ranked in the top 20 economics departments worldwide. This is reflected in the 2014 Research Assessment Exercise which recognised the Department's outstanding contribution to the field. According to the REF 2014 results, 56 per cent of the Department’s research output was graded 4 star (the highest category), indicating that it is 'world-leading'. A further 33 per cent was designated 'internationally excellent' (3 star).

On this three week intensive programme, you will engage with and learn from full-time lecturers from the LSE’s economics faculty.

Reading materials

J. Tirole, The Theory of Industrial Organisation, MIT Press (1988).

J. Church and R. Ware, Industrial Organisation: A Strategic Approach, McGraw-Hill (2000) – Available online for free.

M. Motta, Competition Policy Theory and Practice, Cambridge University Press (2007).

*A more detailed reading list will be supplied prior to the start of the programme

**Course content, faculty and dates may be subject to change without prior notice

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