| Detailed information |
| Original study plan |
Master's programme Economics (Economic Policy Analysis) 2023W |
| Objectives |
The objective of the course “Managerial Economics 2” is to get a thorough understanding of the relation between competition and market outcomes, and to enable students to apply models and modern tools to current issues in competition and industrial policy.
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| Subject |
Market power is prevalent in most markets. The course "Managerial Economics 2" analyzes and discusses (potential) sources of market power that allow firms to charge higher prices compared to the ideal of a perfectly competitive market. In particular we will deal with concentrated markets (oligopolies), markets with differentiated products, advertising as a channel to increase market power, and markets with information frictions (search models). The lecture is theory-based, but is complemented by recent findings in the empirical literature.
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| Criteria for evaluation |
Active participation and final exam
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| Methods |
Interactive lecture
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| Language |
English |
| Study material |
Paul Belleflamme and Martin Peitz: Industrial Organization: Markets and Strategies, mainly Part II and Part III
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| Changing subject? |
No |
| Further information |
prerequisites: fundamentals in Microeconomics and Game Theory
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| Is completed if |
971ATECCECK18: KS Competition Economics (4 ECTS)
2FUMCK: KS Competition Economics (4 ECTS)
972FUMSCOMK15: KS Competition Economics (4 ECTS)
971ATECME2K19: KS Managerial Economics 2 (3 ECTS)
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