Undergraduate Course: Economic Aspects of Competition Policy (BUST10124)
Course Outline
| School | Business School |
College | College of Humanities and Social Science |
| Course type | Standard |
Availability | Available to all students |
| Credit level (Normal year taken) | SCQF Level 10 (Year 3 Undergraduate) |
Credits | 20 |
| Home subject area | Business Studies |
Other subject area | None |
| Course website |
EACP |
Taught in Gaelic? | No |
| Course description | This course aims at familiarizing the student with the economic theory that supports competition policy. The course considers the social welfare implications of different market structures, as they affect the behaviour and strategies of firms in terms of price, output, or R&D. Special attention is paid to the theory of oligopoly and how it fits within the overall structure-conduct-performance (SCP) paradigm. The lessons obtained from the theory will be applied to the analysis of mergers, price-fixing, or abuse of dominant position, among other topics. Real-life case studies will be discussed in class, and they appear in all forms of assessment.
The course is delivered in ten sessions that cover the following topics: Introduction to the SCP paradigm;Theory of Oligopoly; Introduction to game theory; Oligopolistic coordination; Strategic entry deterrence; Introduction to Competition Policy; Market Structure and concentration; Mergers and Acquisitions; Merger Policy; Market Structure, R&D, and Intellectual Property. |
Information for Visiting Students
| Pre-requisites | A pass in Business Economics (BUST08005) OR Economics 2 (ECNM08006) equivalents. |
| Displayed in Visiting Students Prospectus? | Yes |
Course Delivery Information
|
| Delivery period: 2014/15 Semester 1, Available to all students (SV1)
|
Learn enabled: Yes |
Quota: None |
|
Web Timetable |
Web Timetable |
| Course Start Date |
15/09/2014 |
| Breakdown of Learning and Teaching activities (Further Info) |
Total Hours:
200
(
Lecture Hours 20,
Formative Assessment Hours 2,
Revision Session Hours 2,
Programme Level Learning and Teaching Hours 4,
Directed Learning and Independent Learning Hours
172 )
|
| Additional Notes |
|
| Breakdown of Assessment Methods (Further Info) |
Written Exam
70 %,
Coursework
30 %,
Practical Exam
0 %
|
| Exam Information |
| Exam Diet |
Paper Name |
Hours & Minutes |
|
| Main Exam Diet S2 (April/May) | | 2:00 | |
|
| Delivery period: 2014/15 Semester 1, Part-year visiting students only (VV1)
|
Learn enabled: No |
Quota: None |
|
Web Timetable |
Web Timetable |
| Course Start Date |
15/09/2014 |
| Breakdown of Learning and Teaching activities (Further Info) |
Total Hours:
200
(
Lecture Hours 20,
Programme Level Learning and Teaching Hours 4,
Directed Learning and Independent Learning Hours
176 )
|
| Additional Notes |
Visiting student assessment: coursework essay (50%) and exam-replacement essay (50%)
|
| Breakdown of Assessment Methods (Further Info) |
Written Exam
0 %,
Coursework
100 %,
Practical Exam
0 %
|
| No Exam Information |
Summary of Intended Learning Outcomes
On completion of the course students should:
a) be able to understand
- what determines inter-industry differences in the structure of markets;
- how firms interact with each other in their price, output and R & D decisions;
- how firms may act strategically to retain profits by deterring entry;
- how the structure of industries affects the pricing, output, R&D and other policies of firms;
- how the structure of industries affects their economic performance and vice versa;
- why and how existing regulations protect competition;
- what motivates firms to merge or collude;
- what motivates a government to intervene;
- how both parties will present their arguments;
b) be able to apply these concepts to the analysis of real life case studies |
Assessment Information
1. One individual essay of 2000 words (focusing on a price-fixing case)(30%).
2. Open Note Final exam: two case studies; one focusing on conduct (e.g. abuse of dominant position) and the second focusing on structure (e.g. a merger or joint venture) (70%). |
Special Arrangements
| None |
Additional Information
| Academic description |
Not entered |
| Syllabus |
The course is delivered in ten sessions that cover the following topics:
1. Introduction to the SCP paradigm
2. Theory of Oligopoly
3. Introduction to game theory
4. Oligopolistic coordination
5. Strategic entry deterrence
6. Introduction to Competition Policy
7. Market Structure and concentration
8. Mergers and Acquisitions
9. Merger Policy
10. Market Structure, R&D, and Intellectual Property
|
| Transferable skills |
Not entered |
| Reading list |
S Martin Industrial Organization in Context, Oxford University Press, 2010.
J Lipczynski, J Wilson & J Goddard, Industrial Organization, Prentice Hall, 2005; 3rd edition 2009. |
| Study Abroad |
Not entered |
| Study Pattern |
Not entered |
| Keywords | EACP |
Contacts
| Course organiser | Dr Augusto Voltes-Dorta
Tel: (0131 6)51 5546
Email: Augusto.Voltes-Dorta@ed.ac.uk |
Course secretary | Ms Patricia Ward-Scaltsas
Tel: (0131 6)50 3823
Email: Patricia.Ward-Scaltsas@ed.ac.uk |
|
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