EC427 One Unit
The Economics of Industry
This information is for the 2025/26 session.
Course Convenor
Dr Pasquale Schiraldi
Dr Eduard Boehm
Availability
This course is available on the MRes in Management (Marketing), 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. This course uses controlled access as part of the course selection process.
How to apply: These courses are intended for MSc Economics, MSc Economics (2 Year Programme), and MSc EME Students. Any external student must have successfully completed EC400 or EC451 in September and/or have approval of the Department of Economics.
Deadline for application: Please apply as soon as possible after the opening of course selection for all courses.
For queries contact: Econ.msc@lse.ac.uk
Requisites
Pre-requisites:
Students must have completed EC400 before taking this course.
Additional requisites:
In exceptional circumstances, students may take this course without EC400 provided they meet the necessary requirements and have received approval from the course conveners (via a face to face meeting), the MSc Economics Programme Director and their own Programme Director. Contact the Department of Economics for more information (econ.msc@lse.ac.uk) regarding entry to this course.
Course content
The course examines the theory of firm behaviour and strategic interaction in both price and non-price dimensions. Topics covered may include, among others, the econometric estimation of continuous and discrete differentiated product demands, estimation of conduct, merger analysis, information and search, entry models and the role of sunk costs, collusion in auctions, price discrimination, estimation of production functions and productivity, regulation of monopolies and oligopolies, vertical and horizontal contracts, theory of the firm and ownership, strategic competition and entry deterrence, horizontal and vertical product differentiation, and social responsibility. Both theoretical and empirical contributions are studied, with their implications for competition policy issues.
Teaching
1 hours of seminars in the Spring Term.
10 hours of seminars and 20 hours of lectures in the Winter Term.
20 hours of lectures and 9 hours of seminars in the Autumn Term.
This course has a reading week in Week 6 of Autumn and Winter Term.
Formative assessment
Two marked assignments per term.
Indicative reading
Two books which provide coverage of topics are Jean Tirole, Theory of Industrial Organization (MIT Press 1989) and John Sutton, Technology and Market Structure (MIT Press 1998). A full reading list will be supplied at the beginning of each term in the course.
Assessment
Exam (50%), duration: 120 Minutes, reading time: 15 minutes in the Spring exam period
Essay (50%, 6000 words)
This course is IRDAP-enabled, meaning that resit and deferred assessments will take place in August 2026.
Key facts
Department: Economics
Course Study Period: Autumn, Winter and Spring Term
Unit value: One unit
FHEQ Level: Level 7
CEFR Level: Null
Total students 2024/25: 33
Average class size 2024/25: 17
Controlled access 2024/25: YesCourse selection videos
Some departments have produced short videos to introduce their courses. Please refer to the course selection videos index page for further information.