The Organization of Industry

Catalog description

Credits 3. 3 Lecture Hours. Analysis of how market structure and firm behavior determine industry performance and economic welfare; develops theoretical and empirical tools to study competition, market power and strategic interaction among firms; examines pricing, product differentiation, entry, innovation and advertising as determinants of market outcomes; explores the role of antitrust policy and regulation in promoting efficiency and preventing collusion; demonstrates how industrial organization principles explain firm strategy and market design in the modern economy. Prerequisite: Grade of C or better in ECON 323 .