ECO3026 : Industrial Economics and Policy
- Offered for Year: 2024/25
- Module Leader(s): Dr Jonathan Jones
- Lecturer: Professor John Sessions
- Owning School: Newcastle University Business School
- Teaching Location: Newcastle City Campus
Semesters
Your programme is made up of credits, the total differs on programme to programme.
| Semester 1 Credit Value: | 10 |
| Semester 2 Credit Value: | 10 |
| ECTS Credits: | 10.0 |
| European Credit Transfer System | |
Aims
The module aims to develop the ability of students to apply tools of modern microeconomics to examine the reasons for the existence of firms, the diversity of their forms, the way they interact, and how government policy influences this. The module will provide students with an introduction to a branch of economic thought that evolved as an offshoot from standard microeconomic theory. It will provide students with a clearer understanding of the real-world causes and effects of various market structures on the choices of firms in terms of their performance. The course builds upon the tools learnt in intermediary microeconomics and covers issues such as market concentration, market structure, entry barriers, oligopoly, collusion, firm innovation, advertising and policy. The course employs a mix of theoretical analysis, empirical investigation and real life case studies.
Outline Of Syllabus
Market Structure and determinants of market structure; measurement and determination of market concentration; static models of oligopoly behaviour - how are major policy variables (price or quantity, advertising, R&D) determined in an interdependent oligopolistic market; impact of market structure, firm conduct and strategic behaviour; industrial economic policy.
Teaching Methods
Teaching Activities
| Category | Activity | Number | Length | Student Hours | Comment |
|---|---|---|---|---|---|
| Scheduled Learning And Teaching Activities | Lecture | 30 | 1:00 | 30:00 | PiP lectures |
| Scheduled Learning And Teaching Activities | Small group teaching | 6 | 1:00 | 6:00 | PiP seminars |
| Guided Independent Study | Independent study | 1 | 164:00 | 164:00 | Reading, enhancing lecture notes, seminar preparation, revision. |
| Total | 200:00 |
Teaching Rationale And Relationship
Lectures introduce the material by providing an in-depth survey of current theoretical and empirical issues in Industrial Economics.
Small group teaching is used to take students through problem sets and empirical applications.
Independent study allows students to go over lecture content, enhance lecture materials through course readings, work on problems introduced in seminars, and revise material in preparation for the final assessment.
Assessment Methods
The format of resits will be determined by the Board of Examiners
Exams
| Description | Length | Semester | When Set | Percentage | Comment |
|---|---|---|---|---|---|
| Written Examination | 90 | 1 | A | 50 | Unseen exam |
| Written Examination | 90 | 2 | A | 50 | Unseen exam |
Exam Pairings
| Module Code | Module Title | Semester | Comment |
|---|---|---|---|
| Industrial Economics and Policy (Study Abroad Sem 1) | 1 | Unseen exam |
Formative Assessments
Formative Assessment is an assessment which develops your skills in being assessed, allows for you to receive feedback, and prepares you for being assessed. However, it does not count to your final mark.
| Description | Semester | When Set | Comment |
|---|---|---|---|
| Prob solv exercises | 1 | M | Seminar questions provided |
| Prob solv exercises | 2 | M | Seminar questions provided |
Assessment Rationale And Relationship
Exams are the standard tool for examining theoretical material under time constraints. The exams test students ability to tackle problems in industrial Economics and understanding of the implications. It is the appropriate way of assessing theoretical knowledge. Alternative examination of 24 hour online take-home exam in the event of in-person assessments not taking place.
Reading Lists
Timetable
- Timetable Website: www.ncl.ac.uk/timetable/
- ECO3026's Timetable