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Industrial Economics
Industrial economics analyses strategic choices of firms and the other economic agents such as suppliers, clients, competitors and regulators. Main aim of the course is learning to critically assess economic phenomena linked to these agents.
We will go through theoretical models of price discrimination, product differentiation, innovation, vertical and horizontal integration, comparing the results with empirical evidence and case studies.
The module starts with a revision of basic microeconomic concepts and oligopoly models. We then move on more specific topics such as firm behaviour in competitive environments such as:
- foundations of microeconomics; market structure and market power; technology and cost
- monopoly power: theory and evidence; price discrimination, linear and non-linear pricing; variety and quality in a monopoly
- oligopoly and strategic interaction: static games and Cournot competition; price competition a' la Bertrand; sequential games, first and second mover.
- anti-competitive strategies: limit pricing, entry deterrence, predatory behaviour, price fixing and repeated games, collusion (how to detect it and fight it)
- contracts between firms: horizontal integration, vertical integration and price restrictions
- non-price competition: advertising, market power, information and competition, R&D and patents
- network
---module structure---
- Lectures on theoretical models, empirical evidence and case studies
- Tutorials, to apply the theoretical concepts
During the teaching semester there will be a tutoring service held by graduate students, to solve problems and support learning of exercises similar to the one on which you’ll be examined.
During the academic year there will be the lecturer’s office hours. The textbook, slides and problem sets are coherent with the syllabus. Further teaching material will be available on the Moodle page of the module.
| Reference books | |||||
| Author | Title | Publisher | Year | ISBN | Note |
| C. Garavaglia | Economia industriale: Esercizi ed applicazioni (Edizione 1) | Carocci | 2011 | 88-430-3803-6 | |
| L. Pepall, D. J. Richards, G. Norman, G. Calzolari | Organizzazione industriale (Edizione 3) | Mc Graw Hill | 2017 | 8838669201 | |
Syllabus, teaching material and exam format are the same for attending and non-attending students. Coherently with what taught, the Industrial Economics assessment is a WRITTEN EXAM in which the student is asked to:
a) solve problems analytitcally
b) comment critically current affair cases linked with the taught topics
c) answer theory questions
All of these concur to for the final mark. More details will follow during teaching and in the online course material.
--- Half-Term Test
The half-term test is not compulsory.
The first partial test will cover topics taught in the first part of the module, the second partial test will cover the remaining topics.
Each partial test is considered “passed” if and only if the grade is at least 15/30. Who passes the first test can sit the second test in the first date of the Winter exam session (primo appello). Who does not pass either of the two partial tests will have to sit the full exam. The final grade will be the simple average of the two tests grades (as long as both grades are at least 15).
Alternatively, students may take the full exam, which will be based on the whole syllabus.
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