INDUSTRIAL ORGANIZATION AND INDUSTRIAL POLICY
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- Versione italiana
- Academic year
- 2022/2023
- Teacher
- LAURETTA RUBINI
- Credits
- 8
- Didactic period
- Secondo Semestre
- SSD
- SECS-P/06
Training objectives
- Main objective of the course is to provide students with an initial framework on the main industrial organization theories, focusing then on firm's strategy and on the industrial policies and government failures.
In this framework, the course has the aim of favouring the acquisition of the following knowledge:
- basic concepts related to the structure-conduct-performance model and on the neoclassical theory;
- the market structures, starting from those developed by the neoclassical theory and then widening the analysis to include collusive and non-collusive oligopolistic models
- product differentiation and price strategies; the role of advertising in the competitive mechanisms;
- R&D mechanisms, innovation development phases and tools to protect the intellectual property rights (patents, trademark, copyrights);
- Definition of industrial policy, market failures and government failures;
- Mergers and acquisitions, vertical restraints and antitrust policies.
At the end of the course, the student is expected to be able to:
- analyse the dynamics of industrial development in a pollicy perspective;
- analyse in a critical way the strategic choices of firms and their impact on the sectoral competitive dynamics;
- identify patent opportunities;
- evaluate the government choices in terms of market failure and government failure. Prerequisites
- None.
Course programme
- The course forecasts 56 teaching hours.
Basic concepts (6 hours)
The structure-conduct-performance model – The production function – The short run – The long run – The very long run – The condition for the profit maximisation in the long run.
The theories of the firm (6 hours)
The neoclassical theory – The behavioural theory – The managerial theory – Perfect competition – Monopoly
Structural analysis of industry (6 hours)
Oligopoly (collusive and non-collusive models) – Measures of market concentration – Determinants of market concentration – Barriers to entry and barriers to exit
Analysis of firm strategy (9 hours)
Pricing strategies – Product differentiation – Advertisement – Vertical restrictions – Vertical integration - Diversification
The innovative process (11 hours)
The different tool for the protection of intellectual property (patents, copyrights, trademarks, etc.) – The patenting procedure – Markets for technology (possible operations, functioning, limits) – The process of development of new products.
The industrial policy (18 hours)
The definition of industrial policy – Market failures – Government failures – Abuse of dominant position – Mergers and acquisitions – Antitrust policies. Didactic methods
- The course is made by theoretical lectures, but with frequent use of examples linked to actual cases of industrial organization and industrial policy. Interaction with students is strongly promoted.
Learning assessment procedures
- Students' preparation will be verified by means of a final written exam with multiple choice questions.
Attending students can divide the exam into two partial exams, made of 9 questions each. Each question foresees 4 options:
- 1 right answer (2 points);
- 2 wrong answers (0 points) ;
- 1 particularly wrong answer (-2 points) (some questions might not have this option. In this case, there will be 3 answers with a value of 0).
The final mark will be given by the sum of the results of the two partial exams.
THE MAXIMUM NUMBER OF ABSENCES TO BE CONSIDERED ATTENDING STUDENTS IS 4 (regardless of the motivation for the absence).
NON ATTENDING STUDENTS (or attending students who do not want to take partial exams) will have to take one exam with 16 multiple questions. Each question foresees 4 options:
- 1 right answer (2 points);
- 2 wrong answers (0 points) ;
- 1 particularly wrong answer (-2 points) (some questions might not have this option. In this case, there will be 3 answers with a value of 0).
In particular, questions are designed in order to evaluate the level of acquired knowledge and the capacity to identify issues related to industrial organization and industrial policy with an adequate level of detail.
Exam dates
Exam dates are available at this address https://studiare.unife.it
Exam enrollment
The exam enrollment has to be done at least 7 days before the exam date by visiting the website https:// studiare.unife.it. It will not be possible to enrol after the closure of the online lists.
By passing the exam, students show to have acquired the knowledge and the abilities specified in the teaching aims of the course. Reference texts
- A. Those attending the course can successfully prepare the exam using the lecturer's notes, provided that they are duly completed and enriched by student's notes.
B. Those NOT attending the course HAVE TO prepare the exam by studying the following text:
1)
- Lipczynski J., Wilson J.O.S. and Goddard J. (2013), Industrial organization. Competiton, strategy and policy, Edinburgh, Pearson, 4th edition, EXCLUDING: chapt. 6; par. 7.5; chapt. 12; par. 13.4, 13.5, 13.6; chapt. 14; par. 15.3, 15.4, 15.5, 15.6; par. 16.4, 16.7, 16.8; par. 18.4, 18.5, 18.6; par. 19.6; chapt. 21; par. 24.6, 24.7, 24.8, 24.9.
OR
- Lipczynski J., Wilson J.O.S. and Goddard J. (2017), Industrial organization. Competiton, strategy and policy, Edinburgh, Pearson, 5th edition, EXCEPT FOR: chapt. 6; par. 7.5; par. 9.4, 9.5, 9.6; par. 11.3; par 12.7; chapt. 13; par. 14.4, 14.5, 14.6; chapt. 15; par. 16.3, 16.4, 16.5, 16.6; par. 17.4, 17.7, 17.8; par. 19.4, 19.5, 19.6; par. 20.7; chapt. 22.
2) Di Tommaso M.R. and Schweitzer S.O. (2013), Industrial policy in America: Breaking the taboo, Cheltenham England: Edward Elgar Publishers (pp. 1-42).
3) Chang H.J. (1994), The political economy of industrial policy, London – New York, Macmillan/St. Martin’s Press (chpt. 1, pp. 7-32).
By passing the exam, students show to have acquired the knowledge and the abilities specified in the teaching aims of the course.
