Course Description
This course is an analysis of competition and monopoly power in market economies. It discusses elements and determinants of market structure, the effects of market power on economic performance, the behavior of firms under different market structures, and policies for regulating markets including antitrust policies. The activities of public enterprises are briefly discussed.
Intended Learning Outcomes
CILO-1: Analyze and evaluate the structure of different markets, including the degree of competition, barriers to entry, and the impact of market power on firm behaviour and consumer welfare.
CILO-2: Apply the basic concepts and techniques of game theory to analyze strategic interactions among firms, including the determination of prices, output, advertising, and research and development investments.
CILO-3: Critically assess the empirical evidence on market conduct and performance, including the identification of relevant market parameters, the measurement of market power and efficiency, and the evaluation of antitrust policies.
CILO-4: Evaluate the strategic implications of product differentiation, advertising, innovation, and international trade for firm behaviour and market outcomes, and apply relevant models and methods to analyze these issues.