GRA 6669 Theoretical Industrial Organization

GRA 6669 Theoretical Industrial Organization

Course code: 
GRA 6669
Department: 
Economics
Credits: 
6
Course coordinator: 
Espen Rasmus Moen
Course name in Norwegian: 
Theoretical Industrial Organization
Product category: 
Master
Portfolio: 
MSc in Applied Economics
Semester: 
2020 Autumn
Active status: 
Active
Level of study: 
Master
Teaching language: 
English
Course type: 
One semester
Introduction

Industrial economics analyses the boundary of firms, competition between firms, and the relationship between a firm and its customers and suppliers. The theory of industrial economics forms the basis for competition policy, law and economics, and economics consulting. This course offers an introduction to industrial economics, with a focus on theory. The course focuses on monopoly behaviour, competition in the market place, the role of switching costs and network effects for price formation, and auctions.

Learning outcomes - Knowledge

The aim of this course is to give the students a comprehensive understanding of monopoly behaviour, competition in the market place, the role of switching costs and network effects for price formation, and auctions.

Learning outcomes - Skills
  • Be able to use game theory to analyze competition in the market place.
  • Understand both the private gains and the social costs of market power.
  • Be able to analyse the most important trade-offs when setting prices in markets with varying degree of competition.
  • Understand how switching costs and network effects influence the competitive environment.
  • Understand optimal bidding strategies in auctions.
General Competence
  • Improved understanding of the economic principles governing the market economy.
  • Improved analytical skills
  • Improved problem-solving skills.
Course content
  • Theory of the firm
  • Perfect competition in the short and in the long run
  • Monopoly pricing and price discrimination
  • Oligopoly and product differentiation.
  • Sequential competition
  • Markets with search and switching costs
  • Markets with network effects
  • Vertically related markets
  • Auctions
Teaching and learning activities

Lectures and problem solving sessions.

Software tools
No specified computer-based tools are required.
Exam categoryWeightInvigilationDurationSupport materialsGroupingComment exam
Exam category:
Submission
Form of assessment:
Written submission
Exam code:
GRA66691
Grading scale:
ECTS
Grading rules:
Internal and external examiner
Resit:
Examination when next scheduled course
100Yes3 Hour(s)
  • Bilingual dictionary
Individual Written examination under supervision
Exams:
Exam category:Submission
Form of assessment:Written submission
Weight:100
Invigilation:Yes
Grouping (size):Individual
Support materials:
  • Bilingual dictionary
Duration:3 Hour(s)
Comment: Written examination under supervision
Exam code:GRA66691
Grading scale:ECTS
Resit:Examination when next scheduled course
Type of Assessment: 
Ordinary examination
Total weight: 
100
Student workload
ActivityDurationComment
Teaching on Campus
36 Hour(s)
Feedback activities and counselling
10 Hour(s)
Examination
3 Hour(s)
Prepare for teaching
24 Hour(s)
Student's own work with learning resources
87 Hour(s)
Sum workload: 
160

A course of 1 ECTS credit corresponds to a workload of 26-30 hours. Therefore a course of 6 ECTS credits corresponds to a workload of at least 160 hours.