Postgraduate Course: Industrial Analytics (CMSE11352)
Course Outline
| School | Business School |
College | College of Arts, Humanities and Social Sciences |
| Credit level (Normal year taken) | SCQF Level 11 (Postgraduate) |
Availability | Not available to visiting students |
| SCQF Credits | 15 |
ECTS Credits | 7.5 |
| Summary | The course will provide students the foundations of econometric analysis using the industry and firm level data. In the era of big data, the importance of industrial analytic skills for graduates in business can hardly be overstated. |
| Course description |
Academic Description
Industry analysis has a long history which can be traced back from Michael Porter¿s five-force analysis. Nowadays, this practice is widely adopted in a lot of business activities including business consultancy, strategic analysis, etc. This course aims at training students in the field of industrial analytics using a variety of methodologies. To be more specific, this course covers the typical theories of industrial organisation along with a range of techniques to analyse an industry, assess business models, identify competition patterns, and propose appropriate strategies for high-level managers.
Outline Content
Block 1: Price discrimination
Block 2: Price elasticity and brand competition
Block 3: Demand and Supply System
Block 4: Merge and acquisition
Block 5: Structure estimation of Customer Demand
Student Learning Experience
Students will learn basic empirical analysis of Industrial organisation from 5 two-hour workshops and 4 1-hour lectures. The lecture will cover introduction of basic econometric methods and tools, and students will apply these methods to solve industrial-level and market-level analytical problems in workshops. The final exam will ask students to propose methods to solve a real-world analytical problem, and interpret analytical results.
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Entry Requirements (not applicable to Visiting Students)
| Pre-requisites |
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Co-requisites | |
| Prohibited Combinations | |
Other requirements | None |
Course Delivery Information
| Not being delivered |
Learning Outcomes
On completion of this course, the student will be able to:
- Understand how to use data analytical techniques help decision making in a business environment
- Describe how firms differentiate with each other: vertical & horizontal differentiation. understand common tools for analysing these models empirically
- Identify the effectiveness of firms¿ strategies
- Have an overview of structural estimation
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Reading List
Recommended Textbook:
Lynne Pepall, Dan Richards and George Norman, "Industrial Organization: Contemporary Theory and Empirical Applications". 5th Edition, 2013, ISBN-13: 978-1-118-25030-3
Recommended Readings:
Nevo, A. (2000). A practitioner's guide to estimation of random-coefficients logit models of demand. Journal of economics & management strategy, 9(4), 513-548.
Train, K. E. (2009). Discrete choice methods with simulation. Cambridge university press.
Don E.Waldman, Elizabeth J. Jensen (2013), "Industrial Organization: Theory and Practice", ISBN-13: 978-1292039985
Oz Shy (1996), "Industrial Organization: Theory and Application", ISBN-13: 978-0262691796
Geoff Harcourt, Clive W. J. Granger (1999), "Empirical Modeling in Economics: Specification and Evaluation", ISBN-13: 978-0521778251 |
Additional Information
| Graduate Attributes and Skills |
Research & Enquiry:
On completion of the course, students should be able to:
-Understand how to use data analytical techniques help decision making in a business environment
-Describe how firms differentiate with each other: vertical & horizontal differentiation. understand common tools for analysing these models empirically
-Identify the effectiveness of firms' strategies
Personal & Intellectual Autonomy:
On completion of the course, students should be able to:
-Use empirical analysis for better decision making
-Discuss advantages and drawbacks of popular analytic techniques
-Use state-of-the-art tools in conducting industrial analysis
-Develop appropriate programming skills for industrial analysis
Communication skills
On completion of the course, students should be able to:
-Explain the implications of formal/quantitative models to general audiences
-Use formal/quantitative models to elaborate strategic concerns in managerial and economic problems |
| Keywords | Not entered |
Contacts
| Course organiser | Dr Tong Wang
Tel: (0131 6)51 5551
Email: Tong.Wang@ed.ac.uk |
Course secretary | Miss Lauren Millson
Tel: (0131 6)51 3013
Email: Lauren.Millson@ed.ac.uk |
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