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Firms and Markets : Strategic Analysis [ LBRAI2208 ]


5.0 crédits ECTS  30.0 h + 15.0 h   1q 

Teacher(s) Gaspart Frédéric ;
Language English
Place
of the course
Louvain-la-Neuve
Online resources

Icampus

Prerequisites

micro-economics and introduction to game theory, LBIRA 2104 Decision Tools (or equivalent)

Main themes

Game Theory and econometrics applied to industrial economics

a) horizontal relationships between producers (Bertrand vs Cournot competition, vertical vs horizontal product differenciation,...)

b) vertical relationships between producers : double marginalization, mergers

c) entry and barriers to entry

d) the roles of external actors (the State, consumer collective actions,...)

Aims

a. Contribution de l'activité au référentiel AA (AA du programme)

1.1-1.5, 2.1-2.5 industrial organisation (theory and empirics)

3.2-3.4, 3.6-3.8 matching real situations with archetypal problems, solving models and interpreting the abstract results

4.1-4.2 identifying typical problems in complex situations

4.4-4.7 drawing lessons from abstract models for complex, real situations

6.1-6.2 & 6.4-6.7 articles presented by students, homeworks (questions)

5.8, 7.1 & 7.5 competition policy-making

 

b. Formulation spécifique pour cette activité des AA du programme

 

At the end of the course, students will be able :

 

- to read, understand and criticize theoretical and empirical articles in industrial organization in an autonomous way.

- to analyze strategic choices made by firms.

- to asses the performance of economic activities at the firm level and at the sector level.

- to decipher the main stakes of market structure and competition policy on the basis of relevant information about the production activities in a given sector.

- to articulate theoretical findings with empirical analyzes in industrial organization.

Evaluation methods

Homeworks (student talks, critical questions, answers)

Teaching methods

Articles to be read, classes taught in association by students and the teacher, homeworks

Content

Introductory part, presented by the teacher :

1.     Elements of game theory: normal form games, developped form games, equilibrium concepts.

2.     Cournot versus Bertrand competition.

 

Students pick up a series of articles that they will read and present themselves in close association with the teacher. The assistance must subsequently raise two relevant questions on each presentation ; these are answered the next week.

 

The set of articles in which the students choose covers the following topics :

3.     Product differentiation (vertical, horizontal, information asymetries and market failures).

4.     Vertical versusHorizontal integration, contract theory, agency (Principal-Agent relationship).

5.     Potential competition, excess capacity, entry barriers.

Bibliography

The list of articles in which students choose is constantly evolving.

Cycle et année
d'étude
> Master [120] in Biochemistry and Molecular and Cell Biology
> Master [120] in Agricultural Bioengineering
Faculty or entity
in charge
> AGRO


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