Learning objectives
a. Knowledge and understanding The student learns about the real
behavior of the firm, assuming that this predominant behaves rationally,
but even assuming that its character of organizational complex structure
determines its behavior. The behavior of the firm is especially seen in its
interrelations with other firms, (competitors, upstream and downstream
firms)and with public authorities. The frequent recourse to the use of
game theory also facilitates the transformation of the analysis of the
behavior in capacity to evaluate of the consequences of the behaviors of
all subjects, including humans, fully utilizing the strategic approach.
b. Applying knowledge and understanding. At the end of the course
students acquire, in addition to general knowledge about the structure
and characteristics of a market, the basic tools to operate as analysts in
different firms or as managers of a single company, especially in its
contacts with other productive firms and institutions
c. Making Judgements. Through the course students acquire
independence of judgment required to analyze and predict firms conduct
considering whether this is aimed at the profit maximization of the single
firm and if it is able to improve collective welfare
d Communication skills. The course teaches students to relate to those
who share a specific and quantifiable objective (in the event, the
maximization of profit within the firm). The study of monopolistic
competition, product differentiation and advertising will help to
understand the relevance of communication. In general, the availability
of quantitative information strengthens the student's ability to
communicate ideas and possible solutions.
e Learning skills. The course provides the student with a learning
methodology that can allow both to evaluate and use the best sources of
external information and to attend more advanced courses with a
satisfactory level of autonomy
Prerequisites
Basic microeconomics
Course unit content
The course is aimed at the study of the nature and behavior of firms, the
patterns of interaction that they establish in the markets and the
influence that institutions have on their conducts. In detail the contents of
the program are as follows:
•. Recalls of microeconomics: costs, equilibrium in perfect competition,
monopoly
• Mergers and acquisitions
• Collusive oligopoly
• Non-collusive oligopoly
• Market structure
• Monopolistic competition
• Product differentiation
• Price discrimination
• Strategic behavior
• Vertical integration
• Information asymmetry
• Technological innovation
• Institutional policies: regulation and competition
Full programme
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Bibliography
D.W. Carlton-J.M. Perloff, Organizzazione industriale, McGraw-Hill, Milano,
Third Edition, integrated with the slides presented during the course and freely
available via Internet.
Teaching methods
Lessons, classroom discussion, and experts seminars
Assessment methods and criteria
he assessment is based on written proofs. Each proof has a maximum
duration of two hours. The student must answer four open-ended
questions that are proposed in five (then allowed the student the
opportunity to choose.) In one of the questions (which is compulsory) it is
asked the student to interpret a table (graph), in which some economic
variables that the student has faced and interpreted during the course
are presented. It is then verified the knowledge of the issues and (being
open-ended questions) the understanding of the faced problems (a), as
well as the ability of the student to apply the acquired knowledge to
specific and independent themes(b).
Being open-ended questions where the answers are acceptable on the
ground of more than one definition, students are able to exercise
significant and independent judgment (c). In addition, communication
skills of the student are checked and corrected (point d), at least in
written form, which remains the most common form of communication in
the workplace. Finally, the need to interpret a table with quantitative
information requires the student ability to apply knowledge already
possessed, and a capacity to learn and to evaluate information not
already in its possession (e).
Other information
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