ECONG047 - Empirical Industrial Organisation
The course will make students familiar with key concepts in empirical industrial economics and give students a thorough understanding of up-to-date research on a few selected topics. It will combine theory with empirical studies and real world examples. Topics to be covered include: the nature of competition, measuring market power, structural models of pricing equilibrium in homogeneous and differentiated goods markets, entry, product choice and innovation. Particular attention will be paid to applying economic theory to real world situations and problems. The course will be relevant to students wishing to move into the policy arena, work in a business environment, as well as those wishing to continue to study economics at a postgraduate level.
To provide students with:
- Understanding of relevant mathematical and statistical techniques
- A critical understanding of the analytical methods
- The ability to apply core economic theory and economic reasoning to applied and policy relevant topics.
- The ability to relate differences in economic policy recommendations to differences in the theoretical and empirical features of the economic analysis, which underlie such recommendations.
- The ability to discuss, analyse and evaluate government policy and to assess the performance of the UK and other economies and of the global economy.
- An understanding of verbal, graphical, mathematical and econometric representation of economic ideas and analysis, including the relationship between them. Appropriate techniques to enable manipulation, treatment and interpretation of the relevant statistical data, may also be relevant.
|Assessment:||2 hours of lectures per week and 5 problem classes with written assignments. The course will be examined by a 2-hour written exam in Term 3|