Course ID: | ECON 8220. 3 hours. |
Course Title: | Industrial Economics II |
Course Description: | Industrial economics, with emphasis on game-theoretic models of strategic behavior, contracting and agency theory, transaction costs, property rights, and the boundaries of the firm. Recent theoretical contributions are also covered, with empirical applications and illustrations. |
Oasis Title: | INDUSTRIAL ECON II |
Prerequisite: | ECON 8030 |
Semester Course Offered: | Offered every year. |
Grading System: | A-F (Traditional) |
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Course Objectives: | Students will develop a basic understanding of contract theory, develop skills in
basic game theory and applications to topics in industrial economics, and learn
various analytical techniques and their applications to theories of contracting
hazards and the ways market participants craft "governance structures" to deal with
them. |
Topical Outline: | Firms, Contracts, and Institutions
Games, Stategies, and Equilibrium: Cooperation and the Evolution of Norms
Oligopoly
Agency Theory and Mechanism Design
Transaction Cost Economics
Vertical Integration
Long-term Contracts
Enforcement: Reputations and Hostages
Regulation
Hybrids: Franchising, Leasing, and Exclusive Dealing
The Property Rights Approach
Other Topics |