Introductory description

The aim of this module is to provide concise coverage of a range of central topics in industrial economics, first building a framework of oligopoly then adding to that framework, so bringing the models closer to life. Consequently, the student will gain an appreciation of the key ideas underlying the subject, on which they can build or develop as necessary. The approach involves a mixture of models and empirical examples throughout, including a flavour of the predominant techniques in current empirical work.

Module web page

Module aims

Outline syllabus

This is an indicative module outline only to give an indication of the sort of topics that may be covered. Actual sessions held may differ.

The module will typically cover the following topics:

• Oligopoly models: strategic behaviour amongst a given set of firms;
• Developments of the basic oligopoly models;
• Horizontal and vertical product differentiation;
• Various forms of price discrimination; two-part tariff, bundling, yield management, dynamic pricing;
• Sequential and non-sequential search model; Switching; Search and Switching in Oligopolistic Market;
• Bounded Rationality: Sampling; Loss-Aversion in Menu Design.

Learning outcomes

By the end of the module, students should be able to:

• Subject Knowledge and Understanding:...demonstrate a thorough understanding of the theoretical foundations of industrial economics. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, independent study. The summative assessment methods that measure the achievement of this learning outcome are: Report and problem sets
• Subject Knowledge and Understanding:...demonstrate a significant understanding of empirical applications of industrial economics. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, independent study. The summative assessment methods that measure the achievement of this learning outcome are: Report
• Subject Knowledge and Understanding:...demonstrate an ability to apply industrial economic concepts to particular examples. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, independent study. The summative assessment methods that measure the achievement of this learning outcome are: Report and problem sets

Indicative reading list

Please see Talis Aspire link for most up to date list.

View reading list on Talis Aspire

Subject specific skills

Students will have the opportunity to develop skills in:
Analytical thinking and communication
Analytical reasoning
Critical thinking
Strategic thinking
Problem-solving
Abstraction
Policy evaluation
Analysis of incentives
Analysis of Institutions
Analysis of optimisation
Understanding of Uncertainty and Incomplete Information

Transferable skills

Students will have the opportunity to develop:
Numeracy and quantitative skills
IT Skills
Written communication skills
Oral communication skills
Team work skills
Mathematical, statistical and data-based research skills