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Industrial Economics B: Games and Strategies

Please note that the following information may be subject to change.

Programme: Undergraduate

Module Code: N13318

Semester: Spring

Convenor: Jonathan H W Tan

Credits & Level: 10 credits; Level 3

Pre-requisites: N13444 (Industrial Economics A: Structure, Conduct and Performance).

Co-requisites: None.

Target Students: Available to all Part II Business School students and Joint/Minor students with the required pre-requisite N13444 Industrial Economics A: Structure, Conduct and Performance.

Delivery: 1 two-hour lecture per week for 8 weeks and 4 one-hour tutorials during the semester.

Assessment: One 2-hour exam. (90%); 6 minute Individual presentation (10%)

Exam Format:Answer ALL questions in Section A (5 questions in total) and ONE question from Section B (2 questions in total).

Summary of Content This module will analyse conduct and strategies of firms from a game theoretic point of view. Topics to be covered include basic game theory, models of oligopoly, pricing tactics and strategic entry deterrence.

Aims To build upon the techniques for the analysis of firms in a game theoretic setting to analyse phenomena such as collusion, pricing tactics and strategic entry deterrence.

Key Words: Price Discrimination; Strategic Entry Deterrence; Vertical Restraints; Predatory Pricing; Limit Pricing and Game Theory.

Learning Objectives & Outcomes Knowledge and understanding
This module develops a knowledge and understanding of:
  • The development, access and operation of markets for resources, goods and services
  • The applications of economics, in particular in the field of industrial economics.
Intellectual skills
This module develops:
  • The ability to analyse facts and circumstances to determine the cause of a problem and identifying and selecting appropriate solutions
  • Conceptual and critical thinking, analysis, synthesis and evaluation
Professional practical skills
This module develops:
  • Numeracy and quantitative skills to manipulate data, evaluate, estimate and model business problems, functions and phenomena
  • Facility with key concepts used in decision making, including opportunity cost, incentives, equilibrium, strategic thinking, expectations and marginal analysis.
Transferable (key) skills
This module develops:
  • Communication and listening including the ability to produce clear, structured business communications in a variety of media
  • Self-management and a readiness to accept responsibility and flexibility, to be resilient, self-starting and appropriately assertive, to plan, organise and manage time
  • Articulating and effectively explaining information
  • Subject-specific transferable skills including abstration, analysis, deduction and induction and problem framing.
Knowledge and understanding (Industrial Economics)
This module develops a knowledge and understanding of:
  • The applications of economics. To discover how to apply relevant economic principles and reasoning to a variety of applied topics, in particular in the fields of industrial organisation and managerial economics.
  • Understanding of distinctive economic theories, interpretations and modelling approaches, and their competent use
  • The applications of economics to design, guide and interpret commercial, economic, social and environmental policy.
  • Mathematical methods for economics
  • Economic principles and tools addressing the microeconomic issues of decision and choice
  • Economic principles and tools addressing the microeconomic issues of the production and exchange of goods
  • Economic principles and tools addressing the microeconomic issues of the pricing and use of inputs
  • Economic principles and tools addressing the microeconomic issue of the interdependency of markets
  • Economic principles and tools addressing the microeconomic issue of economic welfare
  • Economic policy at the microeconomic level showing an understanding of analytical methods and model-based argument and of different methodological approaches and their strengths and limitations.



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Nottingham University Business School

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