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Industrial Economics II
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Industrial Economics II
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Academic year 2013/2014
- Course ID
- ECO0228
- Teacher
- Prof. Davide Vannoni (Titolare del corso)
- Year
- 2° anno
- Teaching period
- Primo semestre
- Type
- Affine o integrativo
- Credits/Recognition
- 6
- Course disciplinary sector (SSD)
- SECS-P/06 - economia applicata
- Delivery
- Tradizionale
- Language
- Inglese
- Attendance
- Facoltativa
- Type of examination
- Scritto
- Examination methods
- solo scritto (durata h.:2)
- Prerequisites
- Prerequisites: It is assumed that the student has taken Microeconomics I. The student should be comfortable with applying calculus and should have a rudimentary knowledge of game theory.
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Sommario del corso
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Course objectives
This course surveys major topics in the field of Industrial Organization, with an emphasis upon oligopoly theory, but also with a look at empirical applications.
The analytical knowledge that the student will derive from the course is useful for further study of firms and markets as well as to evaluate the effects of regulatory and legal systems (such as antitrust law or competitive policies) upon firms.
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Results of learning outcomes
At the end of the course, the student will be able:
1. To understand how price and non-price competition among firms affect economic welfare.
2. To analyze and evaluate models of competitive, oligopolistic, and monopoly markets.
3. To analyze and evaluate how firms’ structure and conduct affect economic welfare
The student will use some intermediate level tools to understand and evaluate firms' structure and conduct. He will study some strategies undertaken by firms in the real world and will critically analyze them
The student will learn simple mathematical tools as well as how to undertake a graphical analysis. The student will apply economic reasoning to specific situations taken from the real world of firms, without simply repeating what is included in the textbook.
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Learning assessment methods
Written Exam.
The students will also have the possibility to do some homework as well as to present a paper in the classroom.
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Contents
This course surveys major topics in the field of Industrial Organization, with an emphasis upon oligopoly theory, but also with a look at empirical applications. We will focus upon market structure, firm conduct, and economic performance of industries. Of special interest is firms' strategic behaviour in price and non-price competition. The types of behaviour, or conduct, include oligopoly pricing and production, strategic entry deterrence, location strategies, product differentiation.
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Program
Program
- Short-run Price Competition
- Dynamic Price Competition and Tacit Collusion
- Entry, Accomodation and Exit
- Product Differentiation
- Strategic Behaviour: Reputation, Limit Pricing and Predation
- Mergers
- Vertical Restraints
Suggested readings and bibliography
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Textbooks
- Tirole, J. (1988), The Theory of Industrial Organization, MIT Press.
- Martin, S. (2001), Advanced Industrial Economics, Blackwell.
- Church, J. and R. Ware (1999), Industrial Organization, A Strategic Approach, McGraw-Hill
- Motta, M. (2005), Competition Policy, Theory and Practice, Cambridge University Press
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