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EC3522: INDUSTRIAL ECONOMICS (2021-2022)

Last modified: 31 May 2022 13:05


Course Overview

Many industries are comprised primarily of a few large firms and, hence, are not well described by the benchmarks of monopoly or perfect competition. One important theme in industrial economics studies the strategic issues related to competition in an oligopoly, and the course reviews some of the main models and issues related to such competition.  A related important issue discussed in the course involves the incentives and difficulties when firms collude to try and raise prices and increase profits in their industry.

Course Details

Study Type Undergraduate Level 3
Session Second Sub Session Credit Points 30 credits (15 ECTS credits)
Campus Aberdeen Sustained Study No
Co-ordinators
  • Dr Takahiko Kiso

Qualification Prerequisites

  • Either Programme Level 3 or Programme Level 4

What courses & programmes must have been taken before this course?

What other courses must be taken with this course?

None.

What courses cannot be taken with this course?

  • EC3505 Industrial Economics (Studied)

Are there a limited number of places available?

No

Course Description

Many industries are comprised primarily of a few large firms and, hence, are not well described by the benchmarks of monopoly or perfect competition. One important theme in industrial economics studies the strategic issues related to competition in an oligopoly, and the course reviews some of the main models and issues related to such competition.  A related important issue discussed in the course involves the incentives and difficulties when firms collude to try and raise prices and increase profits in their industry.
 
Industrial economics traditionally also focuses on other elements of business strategy and the course does so as well. One example is the use of price discrimination and other sophisticated methods of pricing such as bundling and quantity discounts. Another strategic issue is the use of advertising and other methods to differentiate your product from those of your competitors. Investment in research and development leading to new products or more efficient production processes is a third important element of  business strategy. 
 
Game theory provides a useful framework for considering strategic interactions between firms,  and elements of game theory are discussed in the course.  
 
The strategic behaviour considered in the course can affect the performance of industries with respect, for example, to the prices charged to consumers or the levels of investment in research and development. These performance issues create a possible role for public policy. 


Details for second half-session courses, including assessments, may be subject to change until 23 December 2022.

Contact Teaching Time

Information on contact teaching time is available from the course guide.

Teaching Breakdown

  • 1 Tutorial during University week s 28 - 35, 39
  • 1 Workshop during University week s 28 - 35

More Information about Week Numbers


Details for second half-session courses, including assessments, may be subject to change until 23 December 2022.

Summative Assessments

Alternative Assessment

2 x 1500-word structured take home assignments (one for each of the two parts of the course, 50% each).

Alternative Resit Assessment

2 x 1500-word structured take home assignments (one for each of the two parts of the course, 50% each).

Formative Assessment

There are no assessments for this course.

Course Learning Outcomes

Knowledge LevelThinking SkillOutcome
FactualRememberILO’s for this course are available in the course guide.

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