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Oct 31, 2024
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ECON 455 - Industrial Organization (3 units)
Interrelationships between industrial structure, conduct and performance. Implications for public policy with an emphasis on antitrust law.
Prerequisite(s): ECON 102 ; ECON 103 ; ECON 302 .
Grading Basis: Graded
Units of Lecture: 3
Offered: Every Fall - Odd Years
Student Learning Outcomes
Upon completion of this course, students will be able to:
1. explain the differences between the structure-conduct-performance, Chicago School, and New Industrial Organization approaches to Industrial Organization.
2. apply basic game theoretic models to examine firm conduct and explain the consequences for consumer and producer welfare.
3. identify various non-price strategies used by firms and explain the consequences for consumer and producer welfare.
4. analyze the economic consequences for firms and consumers of imperfect information and identify public policy strategies to mitigate these conseuences.
5. use economic theory to demonstrate and describe how advertising may have a positive or negative economic effect and identify the circumstances determining these effects.
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