DESCRIPTION:
The course examines the organization of industries, the strategies of firms, and the intervention of the state in the process of competition. More concretely, the course is divided into two parts. The first part presents the advanced microeconomics of the different market structures and the corresponding firm strategies (perfect competition, monopoly, monopolistic competition, game theory, oligopolies, collusion). The second part is dedicated to the core of the Industrial Organization. It analyzes the theory and the empirics of concentration and market power, the price and non-price strategies of firms, and the dynamics of entry and exit.
LECTURES OUTLINE:
1. Introduction: Object, evolution and schools of Industrial Organization - Reminder: Basic microeconomic concepts
2. Perfect and monopolistic competition
3. Monopoly: Regulation and deregulation
4. Price discrimination
5. Introduction to game theory
6. Basic oligopoly models
7. The instability of oligopoly: between collusion and price wars
8. Market structure
9. Horizontal mergers
10. Market foreclosure
11. Vertical relationships
Written exams at the middle and the end of the semester involving open-ended questions and problem solving.
1. Cabral L. (2018): Industrial Organization, Kritiki Ed., Athens (in Greek).
2. Pepall L., Richards D. & Norman G. (2017), Industrial Organization, Tziolas Ed., Athens (in Greek).
3. Waldman D.E. & Jensen E.J. (2006): Industrial Organization: Theory and Practice, Ellin Ed., Athens (in Greek).