INDUSTRIAL ECONOMY

Single discipline educational activity

Course Sheet

Course code:

ECI20

Academic Year of enrolment:

2021

Year of supply:

2023/2024

Type of Course:

Characterising

Degree:

Course of 1st Cycle Degree in ECONOMICS, FIRMS AND FINANCIAL MARKETS

Disciplinary Sector:

Applied Economics

Location:

Credits:

Programme Year:

Professor and Collaborators:

QUAGLIONE Davide

Cycle:

First semester

Hours of classroom activity:

Individual study hours:

153

Prerequisites:

Microeconomics

Objectives

EDUCATIONAL TARGETS
The objective of the course is to provide students with the theoretical and technical tools needed to: understand firms’ organizational and market choices; identify and analyze the ways through which firms’ competitive strategies interact with market structures and assess such iterative process. Particular attention is paid to factors such as incomplete information, transaction costs, mechanisms used by firms to move the competitive pressure to elements other than prices; deepen the ways of public intervention in the economy to deal with market failures.

EXPECTED LEARNING OUTCOMES

KNOWLEDGE AND UNDERSTANDING
At the end of the course students will possess the information and cognitive tools for:
-the assessment of the competition level as well as of the sectoral efficiency performance levels
- the assessment of the impact of firms’ behaviours on the competition level of the sector which they belong to
- evaluate the effects of firms’ strategic behaviours

APPLYING KNOWLEDGE AND UNDERSTANDING
At the end of the course students will be able to:
- identify/develop connections between microeconomic views of the behaviour of single firms and the competitive features of the sector which they belong to
- apply theoretical and applied knowledge to the identification of the main criticalities related to imperfect competition.

AUTONOMY OF JUDGMENT
At the end of the course students:
- evaluate relevant data and methodological tools, as well as optimal interpretative models, in relation to the functioning of markets and strategic business choices
- make autonomous judgements, collect and interpret data and information useful for conducting analyses and evaluating policies.
COMMUNICATION SKILLS
The following communication skills will be acquired by students at the end of the course:
- properly use the economic terminology
- rigorously outline and discuss the mathematical relations underlying the models studied.
ABILITY TO LEARN
At the end of the course, students will have acquired a learning ability that will allow them autonomy in the deepening and development of their knowledge and skills in relation to access to the world of work or to subsequent levels of training.

Contents

The behaviors of firms are analyzed in order to identify and examine the variables that affect firms’ strategies in the different types of market structures. The analysis is carried out with reference to theoretical models, with the support of some real cases.

Extended Syllabus

1. Introduction to the industrial organization
2. The firm and its costs
3. Perfect competition
4. Monopolies, monopsonies and dominant firms
5. Cartels
6. Oligopoly
7. Monopolistic competition and product differentiation
8. Industrial structure and performance
9. Price discrimination
10. Complex methods for price setting
11. Strategic behavior
12. Vertical integration and vertical restrictions
13. Information
14. Patents and Technological Change
15. Government Policies and Their Effects

Recommended Bibliography

Carlton e Perloff, Organizzazione Industriale, 3rd edition, McGraw-Hill, 2013.

Teaching Methods

The lectures will be held by the teacher in the form of frontal classes, which will revolve around theoretical topics. Business experts might occasionally participate. Attendance is on a voluntary basis, but it is strongly encouraged.

Evaluation methods

Verification of learning:

Final examination: Oral

Modalities for learning verification: learning verification is based on an oral examination, through 2/3 questions aimed at assessing students’ knowledge of the teaching material, independence and communication skills. Particular attention will be paid to the appropriateness of the language used, the ability to connect several topics and critically conduct a dialogue on the topics proposed by the teacher. The final grade is based on a 30-point scale. A score from 0 to 17 denotes an insufficient exam, lacking the minimum elements regarding the knowledge of the discipline, the ability to draw and interpret diagrams and to expose concepts with technical language, the ability to critically relate analytical models and tools. For those responses which are at least sufficient, the assessment will be based on the achievement of each of the intended educational targets and expected learning outcomes, according to the following scale: score of 18: sufficient level; 19-22: more than sufficient; 23-26: good; 27-29: very good; 30: excellent.
The overall 30 cum laude score is reached when all the answers given are assessed as excellent and the exam as a whole indicates an outstanding level of judgment, communication skills and learning ability.

Contacts/More Information

E-mail: d.quaglione@unich.it
Tutorship hours: Please refer to the teacher's personal page in the University Website for information

If Health Laws and University regulations allow, teaching activities, teachers office hours’, and exams may take place online (in whole or in part). For any further information and updates, please refer to the University website.

Università degli Studi
"G. d'Annunzio"

Chieti - Pescara

Aree