Industrial Organisation 7.5 credits

The course covers three main themes. The first theme is the analysis of market structures in which the sellers have market power – as opposed to being price-takers – and most notably of oligopoly and monopoly. Special attention is paid here to the firms’ pricing strategies and to their implications. A further theme is the analysis of the informational aspects of markets and organizations. The main focus is on the strategies and institutions which are motivated by informational asymmetries, such as those that typically exist both between potential exchange partners and between the parties to a contract, also to appreciate the relevance of modern information technologies. The course also covers the economic aspects of networks in general and of networks of firms in particular. The focus here is on gains and inefficiencies driven by externalities and arrangements aiming at improving the networks’ efficiency. The approach to each topic emphasizes the aspects related to social welfare and to business strategy. **Connection to Research and Practice** The course is connected to the research front of Industrial Organisation, both theoretically and empirically. Issues connected to competition and economic efficiency are fundamental to all research areas of JIBS. Special attention is paid to informational issues in markets and organizations, in order to allow the students to appreciate the relevance and the potential effects of the innovations that are continuously being introduced in the areas of communication and information.