Billy Foster, PhD
Posts Tagged ‘industrial organization’
Industrial Organization
Course number:
NEIU – ECON 332
“It is not enough to prove that a given industry is not competitive. The crucial question is: how far do the conditions in the industry depart from competition? In many and perhaps most cases the answer is that the departures are not large.”
– George Stigler, The Theory of Price, 1946
INTRODUCTION
Industrial Organization studies market structures, how concentrated industries are, to what extent firms can exercise monopoly power, mergers and takeovers. We will also study the impact of industry structures on consumers: price discrimination, product differentiation, advertising, research and development. Understanding industrial organization brings economic reasoning to cases for which the analyses of extremes of perfect competition or monopoly are not sufficient.
REQUIRED TEXTS
Modern Industrial Organization
Carlton and Perloff
ISBN: 0312180232
The Winner’s Curse
Richard Thaler
ISBN: 0691019347