By the end of this course, I should be able to…
- Differentiate the positive approach from the normative approach of the economist
- Know the evolution of the discipline and the usefulness of using elements of game theory
- Know the different approaches and the usefulness of delimiting the relevant markets
- Not relying solely on market share to assess the degree of competition in a market
- Calculate the equilibrium characteristics of an oligopolistic environment
- Recognize and apply different product differentiation strategies
- Identify and choose the appropriate type of competition in a market
- Integrate a dynamic approach in the modeling of an oligopoly
- Applying the theory of contestable markets to competitive analysis
This Industrial Economics course is a continuation of the Microeconomics 1, 2 and 3 courses of the undergraduate program in economics and management. The objective is to introduce firm strategy in oligopolistic environments. We first detail the importance of the delimitation of relevant markets in competitive analysis. We then introduce the product differentiation strategy (e.g., Hotelling model). The next step is to include some elements of competitive dynamics. We provide two ways to do this: i) adding several decision steps (e.g. choice of firms’ location, choice of product quality); ii) free entry of firms into the market.
For more information
The Ulysseus Academic Offer allows interested students to get to know other Ulysseus partner universities. They can participate in one or more academic courses or jointly-organized courses each semester. Please note that students will only be able to register for courses offered by universities other than their own. This is to ensure that inter-university contacts are established and intercultural experiences can take place.