01-Introduction

01-Introduction - Introduction Econ 425, Summer I 2008 What...

Info iconThis preview shows pages 1–6. Sign up to view the full content.

View Full Document Right Arrow Icon
Introduction Econ 425, Summer I 2008
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
2 What is Industrial Organization? b Industrial Organization is a branch of microeconomics. b It is concerned with the workings of markets or industries. - Why markets are structured as they are? - How do firms in these markets interact with each other? - How do markets perform? b Special emphasis on imperfect competition.
Background image of page 2
3 Two approaches b Structure-conduct-performance (SCP) b Price theory Stigler (1968)
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
4 Structure-Conduct-Performance (SCP) Market Structure #buyers & sellers; market shares; entry barriers; product differentiation Conduct Pricing behavior; investment; product choice; advertising; Performance Price; efficiency; quality Basic Conditions Demand : Elasticity; substitutes; location Supply : Technology, costs Government policy Regulation; antitrust; taxes & subsidies;
Background image of page 4
Price Theory b Also known as the New Industrial Organization. b
Background image of page 5

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 6
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 05/01/2011 for the course ECON 425 taught by Professor Watugala during the Spring '06 term at Texas A&M.

Page1 / 15

01-Introduction - Introduction Econ 425, Summer I 2008 What...

This preview shows document pages 1 - 6. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online