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Module Catalogue

EC208-15 Industrial Economics 1: Market Structure

Department
Economics
Level
Undergraduate Level 2
Module leader
Ghasan Asbool
Credit value
15
Module duration
10 weeks
Assessment
Multiple
Study location
University of Warwick main campus, Coventry

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Introductory description

This module presents core topics in Industrial Economics. There is a focus on understanding market structure (explain why firms are grouped together in industries in particular ways). Also, students will learn about the nature of market power, why firms interact as they do in markets, and how the nature of these interactions influences economic performance in terms of efficiency, profits, technical progress and welfare.

Module web page

Module aims

To provide explanations of why firms are grouped together in industries in particular ways, the nature of market power, why firms interact as they do in markets, and how the nature of these interactions influences economic performance in terms of efficiency, profits, technical progress and welfare.

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: Introduction to Industrial Economics; use of game theory in modelling strategic behaviour; models of market structure such as Bertrand, Cournot, and Stackelberg; Cartels and Collusion; product differentiation; entry and exit; contestable markets; measuring market structures; determinants of concentration; studies of structure and profitability.

Learning outcomes

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

  • Understand the nature of empirical support for the theoretical models. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, reading. The summative assessment methods that measure the achievement of this learning outcome are: Test, Exam.
  • Solve algebraic problems relating to the standard models. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, reading. The summative assessment methods that measure the achievement of this learning outcome are: Test, Exam.
  • Understand more of the methodology of model-building and solve problems. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, reading The summative assessment methods that measure the achievement of this learning outcome are: Test, Exam
  • Understand the nature of market power, why firms interact as they do in markets and how the nature of these interactions influences economic performance in terms of efficiency. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, reading. The summative assessment methods that measure the achievement of this learning outcome are: Test, Exam.

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
Policy evaluation
Analysis of incentives
Analysis of institutions
Analysis of optimisation

Transferable skills

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

Study time

Type Required
Lectures 20 sessions of 1 hour (13%)
Seminars 4 sessions of 1 hour (3%)
Private study 126 hours (84%)
Total 150 hours

Private study description

Private study will be required in order to prepare for seminars/classes, to review lecture notes, to prepare for forthcoming assessments, tests, and exams, and to undertake wider reading around the subject.

Costs

No further costs have been identified for this module.

You do not need to pass all assessment components to pass the module.

Assessment group DA
Weighting Study time Eligible for self-certification
Test 1 10% No
In-person Examination 90% No
  • Students may use a calculator
Assessment group R3
Weighting Study time Eligible for self-certification
Resit 100% No
Feedback on assessment

The Department of Economics is committed to providing high quality and timely feedback to students on their assessed work, to enable them to review and continuously improve their work. We are dedicated to ensuring feedback is returned to students within 20 University working days of their assessment deadline. Feedback for assignments is returned either on a standardised assessment feedback cover sheet which gives information both by tick boxes and by free comments or via free text comments on tabula, together with the annotated assignment. For tests and problem sets, students receive solutions as an important form of feedback and their marked assignment, with a breakdown of marks and comments by question and sub-question. Students are informed how to access their feedback, either by collecting from the Undergraduate Office or via tabula. Module leaders often provide generic feedback for the cohort outlining what was done well, less well, and what was expected on the assignment and any other common themes. This feedback also includes a cumulative distribution function with summary statistics so students can review their performance in relation to the cohort. This feedback is in addition to the individual-specific feedback on assessment performance.

Past exam papers for EC208

Pre-requisites

Any of:

EC106-24 Introduction to Economics OR
EC107-30 Economics 1 OR
EC109-30 Microeconomics 1 OR
EC137-15 Economics 1 (Micro)

AND

EC139-15 Mathematical Techniques A AND
EC122-12 Statistical Techniques A AND

OR

EC140-15 Mathematical Techniques B AND
EC124-15 Statistical Techniques B AND

MORSE/GL11 students – EC106 or EC107
All other students - EC120 + (EC107 or EC109 or EC137)

To take this module, you must have passed:

Courses

This module is Core for:

  • Year 2 of UECA-3 Undergraduate Economics 3 Year Variants

This module is Core optional for:

  • USTA-G300 Undergraduate Master of Mathematics,Operational Research,Statistics and Economics
    • Year 3 of G300 Mathematics, Operational Research, Statistics and Economics
    • Year 3 of G300 Mathematics, Operational Research, Statistics and Economics
    • Year 3 of G300 Mathematics, Operational Research, Statistics and Economics

This module is Optional for:

  • Year 1 of TECA-L1P5 Postgraduate Taught Economics
  • TECA-L1PA Postgraduate Taught Economics (Diploma plus MSc)
    • Year 1 of L1PA Economics (Diploma plus MSc)
    • Year 1 of L1PA Economics (Diploma plus MSc)
  • UIPA-L1L8 Undergraduate Economic Studies and Global Sustainable Development
    • Year 2 of L1L8 Economic Studies and Global Sustainable Development
    • Year 3 of L1L8 Economic Studies and Global Sustainable Development
  • Year 2 of UECA-3 Undergraduate Economics 3 Year Variants
  • UECA-LM1D Undergraduate Economics, Politics and International Studies
    • Year 2 of LM1D Economics, Politics and International Studies
    • Year 2 of LM1D Economics, Politics and International Studies
    • Year 4 of LM1H Economics, Politics & International Studies with Study Abroad
  • UPHA-L1CA Undergraduate Economics, Psychology and Philosophy
    • Year 2 of L1CA Economics, Psychology and Philosophy
    • Year 2 of L1CC Economics, Psychology and Philosophy (Behavioural Economics Pathway)
    • Year 2 of L1CC Economics, Psychology and Philosophy (Behavioural Economics Pathway)
    • Year 2 of L1CD Economics, Psychology and Philosophy (Economics with Philosophy Pathway)
    • Year 2 of L1CD Economics, Psychology and Philosophy (Economics with Philosophy Pathway)
    • Year 2 of L1CE Economics, Psychology and Philosophy (Philosophy and Psychology Pathway)
    • Year 2 of L1CE Economics, Psychology and Philosophy (Philosophy and Psychology Pathway)
    • Year 2 of L1CF Economics, Psychology and Philosophy (Tripartite Pathway)
  • Year 4 of ULNA-R1L4 Undergraduate French and Economics (4-year)
  • Year 4 of ULNA-R2L4 Undergraduate German and Economics (4-year)
  • Year 4 of ULNA-R4L1 Undergraduate Hispanic Studies and Economics (4-year)
  • Year 4 of ULNA-R3L4 Undergraduate Italian and Economics (4-year)
  • UVCA-LA99 Undergraduate Liberal Arts
    • Year 2 of LA99 Liberal Arts
    • Year 3 of LA99 Liberal Arts
  • Year 4 of ULNA-R9L1 Undergraduate Modern Languages and Economics (4-year)
  • UPHA-V7ML Undergraduate Philosophy, Politics and Economics
    • Year 2 of V7MR Philosophy, Politics and Economics (Bipartite with Economics Major)
    • Year 2 of V7MP Philosophy, Politics and Economics (Bipartite)
    • Year 2 of V7ML Philosophy, Politics and Economics (Tripartite)
    • Year 2 of V7ML Philosophy, Politics and Economics (Tripartite)
    • Year 2 of V7ML Philosophy, Politics and Economics (Tripartite)
    • Year 3 of V7MR Philosophy, Politics and Economics (Bipartite with Economics Major)
    • Year 3 of V7MP Philosophy, Politics and Economics (Bipartite)
    • Year 3 of V7ML Philosophy, Politics and Economics (Tripartite)
    • Year 3 of V7ML Philosophy, Politics and Economics (Tripartite)
    • Year 3 of V7ML Philosophy, Politics and Economics (Tripartite)
  • Year 4 of UPHA-V7MM Undergraduate Philosophy, Politics and Economics (with Intercalated year)