Learning Outcomes:
On successful completion of this module students should have:
1. An understanding of the rationale for and the objectives of competition policy.
2. An ability to apply economic theory to address competition issues that arise in the market
3. Analytical and critical thinking skills in the area of competition policy
Indicative Module Content:
The module begins with an introduction that explains the importance of competition policy. Using economic models and predictions from the Industrial Organisation literature, we then examine in detail some key competition issues. These include market definition and assessment of market power, collusion, mergers, and certain vertical agreements.
Comprehending the economics of these issues will provide an understanding of the likely effects of firm conduct in different settings on welfare. This in turn will aid in assessing the appropriate treatment of various market structures and practices under competition policy.