Global Opportunities

ECO3026 : Industrial Economics and Policy

Semesters
Semester 1 Credit Value: 10
Semester 2 Credit Value: 10
ECTS Credits: 10.0

Aims

The module aims to develop the ability of students to apply tools of modern microeconomics to examine the reasons for the existence of firms, the diversity of their forms, the way they interact, and how government policy influences this. The module will provide students with an introduction to a branch of economic thought that evolved as an offshoot from standard microeconomic theory. It will provide students with a clearer understanding of the real-world causes and effects of various market structures on the choices of firms in terms of their performance. The course builds upon the tools learnt in intermediary microeconomics and covers issues such as market concentration, market structure, entry barriers, oligopoly, collusion, firm innovation, advertising and policy. The course employs a mix of theoretical analysis, empirical investigation and real life case studies.

Outline Of Syllabus

Market Structure and determinants of market structure; measurement and determination of market concentration; static models of oligopoly behaviour - how are major policy variables (price or quantity, advertising, R&D) determined in an interdependent oligopolistic market; impact of market structure, firm conduct and strategic behaviour; industrial economic policy.

Teaching Methods

Teaching Activities
Category Activity Number Length Student Hours Comment
Scheduled Learning And Teaching ActivitiesLecture301:0030:00PiP lectures
Scheduled Learning And Teaching ActivitiesSmall group teaching61:006:00PiP seminars
Guided Independent StudyIndependent study1164:00164:00Reading, enhancing lecture notes, seminar preparation, revision.
Total200:00
Teaching Rationale And Relationship

Lectures introduce the material by providing an in-depth survey of current theoretical and empirical issues in Industrial Economics.
Small group teaching is used to take students through problem sets and empirical applications.
Independent study allows students to go over lecture content, enhance lecture materials through course readings, work on problems introduced in seminars, and revise material in preparation for the final assessment.

Assessment Methods

The format of resits will be determined by the Board of Examiners

Exams
Description Length Semester When Set Percentage Comment
Written Examination1802A100Unseen exam
Formative Assessments
Description Semester When Set Comment
Prob solv exercises1MSeminar questions provided
Prob solv exercises2MSeminar questions provided
Assessment Rationale And Relationship

The exam is the standard tool for examining theoretical material under time constraints. The exam tests students ability to tackle problems in industrial Economics and understanding of the implications. It is the appropriate way of assessing theoretical knowledge. Alternative examination of 24 hour online take-home exam in the event of in-person assessments not taking place.

Reading Lists

Timetable