The first part of the module comprises a treatment of the nature of competition under various assumptions regarding market structure and firm behaviour. The framework is extended to study entry equilibrium and the relationship between market structure and performance. Welfare and policy issues are addressed where they arise.
Separate lectures are devoted to the theory of the firm and regulation.
While being based on an applied theory rather than on an empirical approach, the module will involve a number of industry case studies and cite some empirical evidence. The references given for each lecture cover the material required. They are grouped into 'main reading' and 'supplementary reading'. While the 'main reading' covers all of the relevant aspects, you may find the supplementary reading helpful in providing an alternative view on the material. For a few lectures, other references constitute the main reading.