ECO 333 - Industrial Organization

Course Units: 1

This course examines various market structures and the behavior of firms. The measures and role of market power is studied, including the strategies it permits, like monopoly pricing, price discrimination, product variety and quality choice. Strategic behavior among firms is central to many of the topics of the course. As such, game theory is used to study strategic behavior, and is applied to topics such as Cournot competition, price setting, advertisement, R&D, bundling, capacity building. Implications of strategic behaviors by firms that change market structure, such as mergers and predatory pricing, is analyzed. Prerequisite(s): ECO 241