Economics 361. Industrial Organization and Public Policy
In this course, we explore questions such as: Did XYZ company drive its competitors out of business by predatory pricing practices? Why do cable companies bundle services? How concentrated are the hotel, restaurant, pharmaceutical industries and how has this changed over time? Firms make decisions based on the existence and behavior of their competitors. Costs, technology, and government regulation and policies all influence the number of firms that operate in a market, affecting whether firms act competitively or not. This course uses theoretical and empirical approaches to analyze strategic firm behavior under different market structures (monopoly, oligopoly, competition). We examine firm pricing, output, merger, and technology innovation and adoption decisions; derive social welfare implications; and evaluate antitrust policy to detect anticompetitive behavior (predatory conduct and cartels).