Industrial Economics

2023/2024

Academic Year

ENG

Instruction in English

10

ECTS credits

Delivered at:

International College of Economics and Finance

Course type:

Compulsory course

When:

4 year, 1-4 module

Instructors

Artemov, Vadim

Петросян Самвел Гарникович

Попова Валерия Сергеевна

Розанова Ольга Владимировна

Course Syllabus

Abstract

Industrial Economics, or Industrial Organization (IO), is the area of economics that studies firms and their interaction. During the course we will study firms and markets as institutions, the state of competition, the strategic interaction among firms, the industrial policy and decisions companies make within the market environment. IO is a course in applied economic theory. Topics include imperfect competition, contracts, price discrimination and competition policy. Pre-requisites: The course requires knowledge of intermediate microeconomics theory, basic econometrics, and calculus. Third-year game theory is a plus in understanding the material.

Learning Objectives

• to expand the students’ knowledge in the field of microeconomic theory and develop skills for applying microeconomic concepts to different market structures
• to provide students with knowledge of how real businesses operate and interact
• to prepare students for graduate studies in economics and finance

Expected Learning Outcomes

• apply analytical models of firm behaviour and strategic interaction to evaluate various business practices, including tacit collusion, entry deterrence, product differentiation, price discrimination and vertical restraints
• describe and explain the determinants of the size and structure of firms and the implications of the separation of ownership and control
• describe and explain the pricing behaviour by firms with market power and its welfare implications
• recognise and explain the basic determinants of market structure
• recognise and explain the key issues in competition policy and regulation

Course Contents

• Theory of the firm
• Firm conduct and market structure
• Competition policy and regulation

Assessment Elements

• Midterm test
• Winter Exam
• Home assignments II
• Spring exam
• Home assignments I
• Quizzes I
• Quizzes II

Interim Assessment

• 2023/2024 2nd module
  0.15 * Home assignments I + 0.25 * Midterm test + 0.05 * Quizzes I + 0.55 * Winter Exam
• 2023/2024 4th module
  0.2 * Home assignments II + 0.1 * Quizzes II + 0.7 * Spring exam

Bibliography

Recommended Core Bibliography

• Industrial organization : a strategic approach, Church, J., 2000
• The theory of industrial organization, Tirole, J., 1988

Recommended Additional Bibliography

• Porter, R., & Armstrong, M. (2007). Handbook of Industrial Organization. Amsterdam: North Holland. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=207251

Authors

• POPOVA VALERIYA SERGEEVNA