The module aims to develop the ability of students to apply tools of modern microeconomics to the analysis of the structure, management, and performance of firms and markets. It is concerned with the real-world causes and effects of various market structures on the choices of firms in terms of their performance, the implications of firm behaviour for economic efficiency, and the role public policy plays in promoting efficiency.
A Explain and analyse the main issues and debates in the field of industrial economics
B Demonstrate understanding of how economic theory can help in understanding firm behaviour and how it relates to market structure and market behaviour.
C Critically evaluate the relationship between market structure and performance and the various policy approaches to industry
D Apply economic theory and evidence to real-world policy questions.
The teaching philosophy of the module adopts the philosophy of Syntegrative Education. This has meant that the teaching delivery pattern, which follows more intensive block teaching, allows more meaningful contribution from industry partners. This philosophy is carried through also in terms of assessment, with reduction on the use of exams and increase in coursework, especially the use of problem-based assessment which is project focused. The delivery pattern provides space in the semester for students to concentrate on completing the assessments.
This module will be delivered through lectures, seminars and tutorials. Teaching will be conducted using problem-based learning, with problems embedded in the lectures. General transferable skills are developed through the presentation of written and oral reports.