Course for international guest/part time students
- Faculty
- Faculty of Economics
- Organization
- Faculty of Economics
- Code
- GTI92AN819EN
- Title
- Industrial Organization
- Usual semester
- Spring
- Published semester
- 2024/25/2
- ECTS
- 3
- Language
- en
- Learning outcomes
- The course aims to study the structure of firms and markets and their interactions. Instead of idealized models of firms and markets analysed in microeconomics this course takes a closer, more realistic look, providing practical knowledge and a theoretical framework for analysis and prediction. The study of industrial organization adds real-world frictions such as limited information, transaction costs, costs of adjusting prices, government actions, and barriers to entry by new firms into a market to the perfectly competitive model. It then considers how firms are organized and how they interact in such a world. The course goes beyond the descriptive traditional structure-conduct-performance approach by using the latest advances in microeconomic theory, including transaction cost analysis, game theory, contestability, and information theory. Specific topics that are covered include theory of the firm, oligopoly, concentration, barriers to entry, pricing and auctions, product differentiation and advertising, research and development, mergers, vertical integration, diversification. Intended Learning Outcome(s) Successful conclusion of the course will allow students to perform market analyses, and participate in corporate strategy formation and decision making. Links to Sustainable Development After completing the course students should be able to contribute to corporate sustainability goals including efficient production and fair income distribution, in addition students will have the necessary knowledge to help formulate governmental policies and measures supporting green innovation.
- Course content
- Competitive markets, Monopolistic markets, Dominant firms Strategic decision making and game theory Oligopolies, collusive and non-collusive models Monopolistic competition Pricing Strategic behaviour Advertising Product differentiation, research and development
- Assessment method
- The general examination and assessment requirements of the courses offered by the Faculty of Economics are available on the Faculty's website. Grades offered during the semester: 60-69% satisfactory, 70-84% good, 85-100% excellent Exam grading: 50-54% pass, 55-69%, satisfactory, 70-84% good, 85-100% excellent The assessment and evaluation requirements of ELTE GTK apply, which can be found on the website of GTK TH at: https://eltehu.sharepoint.com/sites/GTKstudents/SitePages/The_principles_and_ground_rules.aspx .
- Bibliography
- Coursebook: Dennis W. Carlton, Jeffrey M. Perloff: Modern Industrial Organization, 4th global edition, 2015, Pearson, (Chapters 2-9., 11-14. and 16., fully or partially) Weekly readings (articles, case studies, etc) will be suggested to aid understanding and to elaborate on the topics discussed.