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ECONOMICS OF STRATEGIC COMPETITION Single discipline educational activity
Course Sheet Academic Year of enrolment:
Professor and Collaborators:
Hours of classroom activity:
Prerequisites:
Although no prerequisites are required, an exam of Microeconomics is recommended, not less that 6 cfu's, covering fundamental topics such as perfect competition, monopoly and oligopoly.
Objectives
Contents The course is dedicated to the study of the strategic behaviour of companies operating in markets of imperfect competition (monopolies, oligopolies, cartels, etc.) and in conditions of information asymmetry between producers and consumers.
The program consists of the following chapters of the Carlton-Perloff text 'Industrial Organization': Enterprise and Costs (chapter 2); Perfect competition (chapter 3); Monopolies, monopsonies and dominant firms (chapter 4); The cartels (chapter 5); The oligopoly (chapter 6); Product differentiation and monopolistic competition (7).
Extended Syllabus The program consists of the study of the following topics of 'Industrial Organization':
1. Firms' objectives and technological constraints (cost curves);
2. The functioning of perfectly competitive markets in the short and long run;
3. Market power: Monopolies, monopsonies and dominant companies;
4. The cartels, their sustainability and their regulation;
5. The oligopoly a là Cournot, Bertrand and Stackelberg;
6. Product differentiation and monopolistic competition. The Hotelling model and the Salop model.
Recommended Bibliography Carlton, D. e Perloff, J. 'Organizazione Industriale', McGraw-Hill 2013.
Methods of Provision
Teaching Methods The course consists of thirty-six hours of frontal teaching, divided into two-hour lessons each. The lessons focus on the contents of the textbook, to which they are the accompaniment.
Attendance is optional, although recommended, and the final exam will obviously be the same for attending and non-attending students.
Evaluation methods Verification of learning:
The assessment of learning takes place through a written exam, consisting of seven multiple choice questions and two or three 'open' questions. There is no oral exam. The exam lasts two hours.
The examination procedures are the same for attending and non-attending students.
Contacts/More Information All course information, teaching material and communications will take place over the e-learning platform.