316-303 Industrial Economics

316-202 Intermediate Microeconomics.

This subject offers an introduction to the field of industrial economics. Its aim is to demonstrate how economic analysis can be used to explain, evaluate and suggest policy responses to real-world circumstances relating to the workings of industries. Among other things, the subject will enable you to explain the economic behaviour of different industries, firms and markets, particularly with reference to their output and pricing decisions, and levels of investment in advertising and research and development. The subject will also enable you to analyse and make policy recommendations about monopolies, cartels, non-cooperative oligopolies and other forms of imperfect competition. You will also be asked to evaluate critically the relationship between industrial structure and performance, as well as various approaches to innovation, entrepreneurship and industry policy. The degree and manner of government intervention in industry is also subjected to close analysis. Wherever possible, this subject will get you to apply your learning to real world situations.

A 3-hour end-of-semester examination (60%) and written assessment (40%).

To be advised.