The Economics of Industry
This information is for the 2015/16 session.
Prof John Sutton 32L. 4.32 and Dr Pasquale Schiraldi 32L. 4.22
This course is available on the MPA in European Public and Economic Policy, MPA in International Development, MPA in Public Policy and Management, MPA in Public and Economic Policy, MPA in Public and Social Policy, MSc in Econometrics and Mathematical Economics, MSc in Economics and MSc in Economics (2 Year Programme). This course is available with permission as an outside option to students on other programmes where regulations permit.
Students must have completed Introductory Course in Mathematics and Statistics (EC400).
A graduate course in Industrial Organization, which aims to provide students with a working knowledge of current theoretical and empirical methods for industry studies. Applications of these methods are considered in industry case studies.
Topics include: Pre-requisites in Game Theory, An introduction to current developments in Oligopoly Theory. A formal analysis of conduct in concentrated industries (cartel stability, limit pricing, predatory pricing, etc), Demand estimation in homogenous and differentiated product industries, Production function estimation, Empirical techniques for oligopoly models and auction markets, Identification of conduct, Economies of Scale, R&D, Advertising, Vertical restraints. The topics will be discussed with detailed applications for selected industries and considering competition policy questions.
20 hours of lectures and 10 hours of seminars in the MT. 20 hours of lectures and 10 hours of seminars in the LT.
Two marked assignments per term.
Two books which provide a basic framework are J Tirole, Theory of Industrial Organization, MIT Press, 1989 and J Sutton, Technology and Market Structure, MIT Press, 1998. A full reading list will be supplied at the beginning of the course.
Exam (50%, duration: 3 hours) in the main exam period.
Essay (50%, 6000 words) in the ST.
Total students 2014/15: 30
Average class size 2014/15: 15
Controlled access 2014/15: Yes
Value: One Unit