ECON30180

Learning Outcomes:

On successful completion of this module students should have:
1. An understanding of pricing and quantity setting in different competitive environments.
2. An understanding of strategic actions of firms regarding entry deterrence, collusion, price discrimination, product proliferation.
3. An understanding of the possible need for market intervention and regulation by government.

Indicative Module Content:

Part A: Market structures
1. Perfect Competition
2. Monopoly
- Dominant firm and competitive fringe
- Durable good monopoly
3. Oligopoly
- Quantity Determination Models
The Cournot-Nash Model (with 2 and n firms)
The Stackelberg Model
- Price Determination Models
The Bertrand Model
Limited Capacity and Price Competition Model

Part B: Business strategies
1. Collusion
2. Price Discrimination: first, second and third degree, two-part tariff)
3. Product Differentiation (address and non-address approach, experience goods)
4. Pricing Strategy to Deter Entry: Limit Pricing
5. Non-Pricing Strategy to Deter Entry: Excess Capacity, Raising the Rival’s Cost, Learning by Doing, Product Proliferation)

Student Effort Hours:

Approaches to Teaching and Learning:

Requirements, Exclusions and Recommendations

Intermediate Microeconomic or Microeconomic for Business module or equivalent
Introduction to Quantitative Economics module or equivalent

Module Requisites and Incompatibles

Assessment Strategy

Feedback Strategy/Strategies

• Group/class feedback, post-assessment
• Self-assessment activities

How will my Feedback be Delivered?

1. Regular problem sets will be assigned throughout the semester for self-assessment; some problems will be solved during tutorial hours, the solutions to all problem sheest will be posted on Brightspace. 2. Solutions to midterm examination will be posted on Brightspace within 20 working days from the date of the midterm, and those students who wish to go over their midterm will be given a appointment for individual feedback.