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SCQF Level 10 (Year 4 Undergraduate)
This course analyses firm behaviour in industries where a small number of firms operate and where the theory of perfect competition does not therefore apply.Alternative theoretical models are needed since firms' actions now directly affect competitors' profits and consumer welfare.This course aims to equip students with tools to identify and understand strategic firm behaviour and enable them to discuss the design of regulation and discuss their impact on welfare. The course presumes that students have a familiarity with micro theory and basic game theory.Topics in Economic Analysis 1 is a prerequisite. Although mainly theoretical, this course also intigrates empirical studies:The first part of the course (approximately two thirds of the total) provied a broad exposition to topics and industries that current researchers are studying by discussing models of monopoly pricing, oligopoly behaviour, product differentiation, innovation, advertising and entry. The second part is more empirical and proposes several topics on imperfect competition, the need for regulation and the analysis of real cases concerning European antitrust legislation. This part will be conducted through group presentations on the proposed topics.
College of Humanities and Social Science
School of Economics
This article was published on Feb 24, 2012