ECO-30046 - Industrial Organisation

Coordinator: Shiva Sikdar Tel: +44 1782 7 34372

Lecture Time: See Timetable...

Level: Level 6

Credits: 15

Study Hours: 150

School Office: 01782 733094

Programme/Approved Electives for 2020/21

None

Available as a Free Standing Elective

Co-requisites

None

Prerequisites

None

Barred Combinations

None

Description for 2020/21

This module explores topics in industrial organisation and regulation. The module examines how firms' behaviour in setting output and price changes when we allow for non-competitive behaviour and inter-dependent decision-making. Issues associated with prospective industrial regulation are also examined.

Aims

This module focuses on the study of imperfectly competitive markets, a much more realistic setting than the perfect competition case. The emphasis is on the behaviour of firms in such settings, in particular their quest for, and use of, market power. The strategic interaction of firms, including their pricing decisions and the possible equilibrium outcomes, are analysed in detail. The basic game-theoretic tools necessary for the study of industrial organisation will be taught in the context of the models being developed. The welfare implications of alternative market organisations, the consequences of market power, and the scope for government regulation and antitrust/competition policies will be considered.

Intended Learning Outcomes

demonstrate knowledge of key questions in the field of industrial organisation and regulation and their relevance
: 1,2
explain the implications of taking strategic considerations into account and relate how behaviour may be different in strategic environments compared to non-strategic environments: 1,2
translate real-world situations into an abstract model in order to critically analyse and derive predictions of real-world behaviour: 1,2
solve the "equilibrium" in various models of markets including oligopolistic markets, markets with dynamic interaction, markets with price discrimination and markets with vertical interaction: 1,2
use strategic thinking to predict market outcomes in simple settings.: 1,2
analyse basic economic and strategic models of industrial organisation using game theoretic solution concepts such as Nash equilibrium and subgame perfect equilibrium: 1,2

Study hours

Lectures: 20 hours
Small-group teaching: 4 hours
Reading/revision of lecture material: 83 hours
Preparation of problem sets: 20 hours
Class preparation: 20 hours
Class test: 1 hour
Exam: 2 hours

School Rules

ECO-30047, Advanced Topics in Microeconomics

Description of Module Assessment

1: Online Tasks weighted 30%
50 min take away test involving a mix of numerical and discursive questions
A take-away assessment which will be available on KLE for 24-hours to answer and submit your answer via Turnitin File. Although students have been given significant time to complete this exam script, we expect most students to spend no more than one hour to complete and submit their answers via Turnitin (with a maximum of 1000 words). Answers should be as accurate and concise as possible. A sequence of short problem-solving questions and short descriptive questions designed to elicit understanding and act as a fitting mid-term revision exercise.

2: Online Tasks weighted 70%
Assessment - takeaway exam
Online assessment covering the syllabus of the whole module. This take-away exam will be available on KLE for 24-hours to answer and submit your answer via Turnitin File. Although students have been given significant time to complete this exam script, we expect most students to spend no more than 2 hours to complete and submit their answers via Turnitin (with a maximum of 2000 words). Answers should be as accurate and concise as possible.

ECO-30046 - Module Specification Keele Business School Faculty of Humanities and Social Sciences

ECO-30046 - Module Specification
Keele Business School
Faculty of Humanities and Social Sciences