ECO4032S - Economics Of Industry, Regulation And Firms

14 credits at NQF level 8

Entry Requirements:

ECO4006F, ECO4007F and ECO4016F. PPE (and other) students who do not have to complete the core as part of their degree requirements may be granted permission to register for this elective at the discretion of the Head of Department.

Course Outline:

The course is an introduction to industrial economics and competition policy. During the course you will become familiar with theoretical models of price discrimination and product design by a monopolist, regulation of natural monopoly and oligopolistic competition. We will then use these models to study horizontal and vertical mergers between firms and understand the mechanics of collusion. The application of these models will be illustrated using examples of firm strategies as well as regulatory and antitrust cases. The course is fundamental to students interested in working as economists at the antitrust authorities, regulatory agencies, economic consulting firms or other firms which are involved in regulated activities. During the course you will receive take home exercises to be able to practice how to solve the theoretical models by yourself. You will be also asked to make a group presentation of a selected competition case. The main topics covered within the course are: Monopoly and price discrimination Regulation of natural monopoly Models of imperfect competition Collusion Market definition and horizontal mergers Vertical relations and restraints.