NQF credits: 30
Fifth year status‚ second semester‚ two double lectures and one double tut per week.
Course co–ordinator: A Professor I Woolard.
Entrance requirements: ECO5020F Advanced Microeconomics‚ ECO5046F Advanced Econometrics and ECO4032S Economics of Industry‚ Regulation and Firms or at the discretion of the Head of Department.
The purpose of this course is to introduce recent quantitative techniques which are used to empirically test the economic theories of competition‚ and which are commonly applied to competition policy and regulation proceedings. The main aim is to make students comfortable with the use of these techniques and to understand their limitations. Students should also learn how to evaluate critically empirical work carried out by others.
This course should be of interest for those students interested in working as economists at industry regulators‚ antitrust authorities‚ economic consulting firms or any other firms which may be involved in regulated activities. This class will also prepare students for writing empirical research papers and technical reports in the areas of industrial organization and competition policy.
A reading list will be provided for each topic. The following topics will be covered in the class:
1) Estimation of structural models of demand
2) Estimation of production and costs function
3) Short–run oligopoly and identification of conduct
4) Detecting collusion
5) Quantitative methods used for relevant market definition
6) Merger simulation using econometric methods
7) Estimation of damages in antitrust
8) Quantitative assessment of vertical restraints and integration
DP requirements: None.
Assessment: Homework exercises count 30%‚ class presentation 10% and final exam 60%.
Last updated : 18 Jun 2014