Industrial Economics(ECON401)
| Course Code | Course Name | Semester | Theory | Practice | Lab | Credit | ECTS |
|---|---|---|---|---|---|---|---|
| ECON401 | Industrial Economics | 1 | 3 | 0 | 0 | 3 | 6 |
| Prerequisites | |
| Admission Requirements |
| Language of Instruction | French |
| Course Type | Compulsory |
| Course Level | Bachelor Degree |
| Course Instructor(s) | Bilge ÖZTÜRK GÖKTUNA goktunabilge@gmail.com (Email) |
| Assistant | |
| Objective | The course aims at familiarising students with different market structures and analysing the relationship betwen strategic behaviour and market structure. |
| Content | The course offers micro-economic and game-theoretic analyses of market structure and performance of industries starting with the analysis of a wide variety of noncompetitive market structures (such as the monopoly, various types of oligopolies competing according to Cournot, Bertrand, sequential moves, and location) in markets for homogeneous and differentiated products. The course proceeds with the analysis of entry barriers, entry deterrence and mergers. |
| Course Learning Outcomes |
1. Strategic approach to the market 2. Analysis of behaviour of agents 3. Technical formulation of market structures |
| Teaching and Learning Methods | We expect students to conceive formally market structures using game theoretic models during the lectures and study these structures doing homework exercises outside class. |
| References |
Shy, Oz. Industrial Organization: Theory and Applications, The MIT Press, 1996 Greer, D. Industrial Organization and Public Policy, 3rd ed. MacMillan, 1992. Motta, M. Competition Policy. Cambridge University Press, 2004. Pepall, L., Richards, D., and Norman, G. Industrial Organization. Thomson South-Western, 1999. Tirole, J. The Theory of Industrial Organization. MIT Press, 1988. Waldman, D. & E. Jensen. Industrial Organization, 3rd edition. Pearson- Prentice Hall, 2007. |
Theory Topics
| Week | Weekly Contents |
|---|---|
| 1 | Technology, cost of production and demand Perfect competition |
| 2 | Monopoly: monopoly and welfare, price discrimination and cartel |
| 3 | Monopoly and durable goods |
| 4 | Homogeneous goods: imperfect competition, Cournot and Betrand competition, comparision, Stackelberg |
| 5 | Homogeneous goods: collusive behaviour |
| 6 | Heterogeneous goods: case of two differentiated goods, monopolistic competition |
| 7 | Heterogeneous goods: location models |
| 8 | Concentration, merger, types of mergers |
| 9 | Horizontal and vertical mergers |
| 10 | Barriers of entry: natural barriers and strategic barriers |
| 11 | Barriers of entry: Bain |
| 12 | Contestable markets |
| 13 | Applications |
Practice Topics
| Week | Weekly Contents |
|---|
Contribution to Overall Grade
| Number | Contribution | |
|---|---|---|
| Contribution of in-term studies to overall grade | 1 | 40 |
| Contribution of final exam to overall grade | 1 | 50 |
| Toplam | 2 | 90 |
In-Term Studies
| Number | Contribution | |
|---|---|---|
| Assignments | 3 | 0 |
| Presentation | 0 | 0 |
| Midterm Examinations (including preparation) | 1 | 50 |
| Project | 0 | 0 |
| Laboratory | 0 | 0 |
| Other Applications | 0 | 0 |
| Quiz | 0 | 0 |
| Term Paper/ Project | 0 | 0 |
| Portfolio Study | 0 | 0 |
| Reports | 0 | 0 |
| Learning Diary | 0 | 0 |
| Thesis/ Project | 0 | 0 |
| Seminar | 0 | 0 |
| Other | 0 | 0 |
| Toplam | 4 | 50 |
| No | Program Learning Outcomes | Contribution | ||||
|---|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5 | ||
| 1 | Demonstrate a basic knowledge of different economic theories and main discussions driving current theoretical approaches | X | ||||
| 2 | Demonstrate ability to use basic qualitative and quantitative methods to asses different economic questions of applied fields | X | ||||
| 3 | Show a sound understanding of current economic discussions and problems | X | ||||
| 4 | Have an effective and clear communication in written and oral formats in different public and professional contexts. | X | ||||
| 5 | Demonstrate basic knowledge of the world economic history and a sound knowledge of the Turkish economic history | X | ||||
| 7 | Demonstrate knowledge of standard quantitative techniques and empirical models used in economics | X | ||||
| 8 | Show ability to apply basic economic theory to an applied topic | X | ||||
| 9 | Show a basic understanding of analytical methods, both theory- and model-based | X | ||||
| 10 | Show ability to use economic concepts to discuss current economic issues | X | ||||
| 11 | Reason logically and work analytically | X | ||||
| 12 | Show awareness on social aspects of the economics in different applied and theoretical fields | X | ||||
| 13 | Identify appropriate economic models to analyse problems | X | ||||
| 16 | Show understanding of basic statistical and econometric concepts and ability to apply basic concepts to own empirical work | X | ||||
| 17 | Demonstrate a sound knowledge of the current economic issues in Turkey and a general knowledge of the issues in the world economy | X | ||||
| Activities | Number | Period | Total Workload |
|---|---|---|---|
| Class Hours | 13 | 3 | 39 |
| Working Hours out of Class | 13 | 4 | 52 |
| Assignments | 3 | 3 | 9 |
| Midterm Examinations (including preparation) | 1 | 12 | 12 |
| Final Examinations (including preparation) | 1 | 12 | 12 |
| Total Workload | 124 | ||
| Total Workload / 25 | 4.96 | ||
| Credits ECTS | 5 | ||