Unit information: Industrial and Managerial Economics in 2017/18

Unit name	Industrial and Managerial Economics
Unit code	EFIMM0031
Credit points	15
Level of study	M/7
Teaching block(s)	Teaching Block 2 (weeks 13 - 24)
Unit director	Professor. Simpson
Open unit status	Not open
Pre-requisites	None
Co-requisites	None
School/department	School of Economics, Finance and Management
Faculty	Faculty of Social Sciences and Law

Description including Unit Aims

The unit aims to introduce students to a range of issues in industrial and business economics. Theoretical models in industrial economics often have direct applications in practice. The course will couple the analysis of formal theoretical models with real-world case studies and policy issues. Topics to be covered are likely to include: market power and collusion; firm pricing decisions, vertical contracts; research and development; and networks and standards.

Intended Learning Outcomes

On completion of the unit students will be able to

1. Apply theoretical models of industrial economics to the business decisions of firms, and understand the implications of firm conduct for market structure and firm and consumer welfare
2. Think critically about the application of the models to case studies and to real-world policy issues, for example in the areas of competition policy and policy towards innovation.

Teaching Information

12hrs lectures (large-group teaching)

5 hrs classes (small-group teaching)

17 contact hours (12 hours of lectures and 5 hours of classes)

35 hours of preparation for formative assessment

98 hours for independent learning.

Assessment Information

• Formative assessment:
  

1,500 word essay

• Summative assessment:
  

2½ hour examination in May/June Formative assessment: one essay (1,500 words). The essay will require students to draw on the theoretical models covered in the course. It will require them to set out formal models, to think critically about the theory and to apply it to real world situations. Addresses Intended Learning Outcomes 1 and 2. Students will also prepare responses to short-answer questions, on both theory and case studies for each of the tutorial exercise classes. Addresses Intended Learning Outcomes 1 and 2. Summative assessment: 100% 2½-hour written exam. Students will select three questions from a range of topics.. These essay-type questions will require students to demonstrate knowledge of both theory and the application of theory to cases. Addresses Intended Learning Outcomes 1 and 2.

Reading and References

Luis Cabral (2000) Introduction to Industrial Organization. MIT Press. (Second Edition due to be published soon.)