The course positions industrial organisation theory within a practical context and provides an opportunity to analyse competition and regulatory policies across different market structures. This module also helps to facilitate an understanding of how economics informs policy-making and how to apply effective policy in the area of competition policy.
Principal Learning Outcomes
By completing the module students should be able to demonstrate a good understanding of how industrial organisation theory and empirical analyses can be used to address problems arising in imperfectly competitive market structures.
This course applies microeconomic principles and tools of analysis to examine economic factors influencing the competitive status of both output and input markets. Typically the following areas are covered:
Markets are described in terms of effective competition and economic efficiency. Structural and behavioural factors that may lead to a lack of effective competition (market failure) are examined. An understanding of the causes of market failure and the formation of policy aimed at remedying such problems are discussed. Models familiar to industrial organisation from oligopoly to monopoly are used extensively. The course also examines competition problems associated with platforms in two-sided markets. Several topics rely on applications of game theory and constrained optimization techniques are applied during the course.
- Core Module
- L116 - Year 3, L117 - Year 4
- Optional Module
- LM1D (LLD2) - Year 3, V7ML - Year 3, L100 - Year 3, V7MM - Year 4, V7MP - Year 3, L1P5 - Year 1, L1PA - Year 1, V7MR - Year 3, LM1H - Year 4, GL12 - Year 4, GL11 - Year 3, L103 - Year 4
- Pre or Co-requisites
- EC202 (with EC208 and EC231 desirable) or EC204 (with EC208 and EC231 desirable).
- Not available to non-final year students on Economics-based degrees.
- Part-year Availability for Visiting Students
- Available in the Autumn term only (1 x assessment – 12 CATS)
- Assessment Method
- Coursework (20%) + 2 hour exam (80%)
- Coursework Details
- 1 assessment (20%)
- Exam Timing
Time Allowed: 2 hours
Answer BOTH questions in Section A (50 marks total) and ONE question in Section B (50 marks). Answer Section A questions in one booklet and Section B questions in a separate booklet.
Approved pocket calculators are allowed.
Read carefully the instructions on the answer book provided and make sure that the particulars required are entered on each answer book. If you answer more questions than are required and do not indicate which answers should be ignored, we will mark the requisite number of answers in the order in which they appear in the answer book(s): answers beyond that number will not be considered.
Previous exam papers can be found in the University’s past papers archive. Please note that previous exam papers may not have operated under the same exam rubric or assessment weightings as those for the current academic year. The content of past papers may also be different.