Rhedir gan Bangor Business School
10 Credyd neu 5 Credyd ECTS
Trefnydd: Dr Rhys ap Gwilym
This module aims at developing microeconomic and game theoretic concepts encountered in year 2, to understand key aspects of industrial organisation. In particular, the module will analyse topics related to how markets work, how firms and consumers interact in markets, and how the policy environment can impact upon those interactions.
The module will use the tools of game theory to interrogate the issue of market power in various models of oligopoly (static and dynamic, homogenous and differentiated goods) as well as monopoly. Measures of concentration and market power will be analysed. The effect of collusion, merger and entry on competition will be studied. The module will also consider pricing strategy and its effects on competition. The public policy implications of all of these topics will be considered.
D- to D+ Satisfactory standard: No major omissions or inaccuracies in the deployment of information/skills. Some grasp of theoretical/conceptual/practical elements. Integration of theory/practice/information present intermittently in pursuit of the assessed work’s objectives.
A- to A+ Excellent standard: An outstanding performance, exceptionally able. The relevant information accurately deployed. Excellent grasp of theoretical/conceptual/practice elements. Good integration of theory/practice/information in pursuit of the assessed work's objectives. Strong evidence of the use of creative and reflective skills.
B- to B+ High Standard: Very good performance Most of the relevant information accurately deployed. Good grasp of theoretical/conceptual/practical elements. Good integration of theory/practice/information in pursuit of the assessed work's objectives. Evidence of the use of creative and reflective skills.
C- i C+
C- to C+ Average Standard: Much of the relevant information and skills mostly accurately deployed. Adequate grasp of theoretical/conceptual/practical elements. Fair integration of theory/practice/information in the pursuit of the assessed work's objectives. Some evidence of the use of creative and reflective skills.
Demonstrate the ability to solve analytical models.
Apply knowledge of microeconomic and game theoretic concepts to understand key aspects of industrial organisation.
Apply critical thinking to topics in industrial organisation.
Analyse the impact of regulation on the behaviour of market participants.
Strategaeth addysgu a dysgu
To include: - viewing and note-taking of pre-recorded Panopto presentations. - reading textbooks and related literature; - preparing for classes; - reviewing class work-sheets; - completing mid-term problem set; - revising for end of semester exam.
|Practical classes and workshops||
One 2 hour class/lecture each week based around class worksheets.
- Llythrennedd - Medrusrwydd mewn darllen ac ysgrifennu drwy amrywiaeth o gyfryngau
- Rhifedd - Medrusrwydd wrth ddefnyddio rhifau ar lefelau priodol o gywirdeb
- Hunanreolaeth - Gallu gweithio mewn ffordd effeithlon, prydlon a threfnus. Gallu edrych ar ganlyniadau tasgau a digwyddiadau, a barnu lefelau o ansawdd a phwysigrwydd
- Adalw gwybodaeth - Gallu mynd at wahanol ac amrywiol ffynonellau gwybodaeth
- Dadansoddi Beirniadol & Datrys Problem - Gallu dadelfennu a dadansoddi problemau neu sefyllfaoedd cymhleth. Gallu canfod atebion i broblemau drwy ddadansoddiadau ac archwilio posibiliadau
- Cyflwyniad - Gallu cyflwyno gwybodaeth ac esboniadau yn glir i gynulleidfa. Trwy gyfryngau ysgrifenedig neu ar lafar yn glir a hyderus.
Sgiliau pwnc penodol
- Abstraction. From the study of economic principles and models, students see how one can abstract the essential features of complex systems and provide a useable framework for evaluation and assessment of the effects of policy or other exogenous events. Through this, the typical student will acquire proficiency in how to simplify while still retaining relevance. This is an approach that they can then apply in other contexts, thereby becoming more effective problem-solvers and decision-makers.
- Analysis, deduction and induction. Economic reasoning is highly deductive, and logical analysis is applied to assumption-based models. However, inductive reasoning is also important. The development of such analytical skills enhances students' problem-solving and decision-making ability.
- Quantification and design. Data, and their effective organisation, presentation and analysis, are important in economics. The typical student will have some familiarity with the principal sources of economic information and data relevant to industry, commerce, society and government, and have had practice in organising it and presenting it informatively. This skill is important at all stages in the decision-making process.
- Framing. Through the study of economics, a student should learn how to decide what should be taken as given or fixed for the purposes of setting up and solving a problem, i.e. what the important 'parameters' are in constraining the solution to the problem. Learning to think about how and why these parameters might change encourages a student to place the economic problem in its broader social and political context. This 'framing' skill is important in determining the decision-maker's ability to implement the solutions to problems.
Rhestrau Darllen Bangor (Talis)http://readinglists.bangor.ac.uk/modules/asb-3514.html
Rhagofynion a Chydofynion
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