Industrial Economics
| Code | School | Level | Credits | Semesters |
| ECON2010 | Economics | 2 | 10 | Spring UK |
- Code
- ECON2010
- School
- Economics
- Level
- 2
- Credits
- 10
- Semesters
- Spring UK
Summary
This module provides an economic analysis of the theory and practice of organization of firms and industries. It explores the nature of competition among firms and their behaviour in various markets, with the specific emphasis on imperfectly competitive markets. Tools for both empirical and theoretical approaches to the analysis of industries are covered. Starting from a detailed analysis of market structures, the module goes on to discuss various aspects of firms' behaviour and their influence on market outcome. Among the behaviours covered in the module are price discrimination, vertical integration, advertising, research and development activities and entry and exit of firms. Government regulation of industries is also discussed.
Target Students
Available to Year 2 Undergraduate students on Economics degree programmes who are studying ECON2001 Microeconomic Theory or ECON2017 Principles of Microeconomics. Available to Year 2 Undergraduate students on the BA Jt Hons Politics and Economics and BSc Jt Hons Maths and Economics degrees. Also available to Economics Exchange students.
Co-requisites
Modules you must take in the same academic year, or have taken in a previous year, to enrol in this module:
Classes
This module is delivered through a series of lectures and tutorials.
Assessment
- 100% Exam 1 (2-hour): Exam
Assessed by end of spring semester
Educational Aims
This module aims:• To introduce students to economic theories used in the analysis of industries.• To evaluate these theories in view of empirical evidence.• To describe policy implications of these theories and their empirical evaluation.This module helps develops the following professional competency:reflection of understanding of material through tutorial questions.Learning Outcomes
On completing this module, the learning outcomes are such that students will be able to:
Knowledge and Understanding:
A2 Apply core economic theory and economic reasoning to applied topics.
A3 Show understanding of analytical methods, both theory- and model-based.
A4 Demonstrate understanding of verbal, graphical, mathematical and econometric representation of economic ideas and analysis, including the relationship between them.
A6 Extensive knowledge and skills in specific specialisms in economics.
Intellectual Skills:
B1 Work with abstract concepts and in a context of generality.
B2 Reason logically and work analytically.
B4 Be able to frame analysis of problems, identifying which parameters should be taken as fixed and why they might change.
Professional / Practical Skills:
C3 Be familiar with differing approaches to analysing a given economic problem and the history and development of economic ideas.
C4 Understand the context in which a problem is to be addressed.
Transferable Skills:
D1 Apply mathematical, statistical and graphical techniques in an appropriate manner.
D2 Communicate effectively and clearly in written and oral formats.