Lecture1_Intro - WHAT IS IO? MICRO REVIEW I NDUSTRIAL O...

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Unformatted text preview: WHAT IS IO? MICRO REVIEW I NDUSTRIAL O RGANISATION (2011) T OPIC 1: I NTRODUCTION Nicolas de Roos 1 1 School of Economics University of Sydney INDUSTRIAL ORGANISATION (2011) TOPIC 1: INTRODUCTION WHAT IS IO? MICRO REVIEW O UTLINE WHAT IS INDUSTRIAL ORGANISATION? Overview IO history MICROECONOMICS REVIEW Costs Perfect competition Monopoly INDUSTRIAL ORGANISATION (2011) TOPIC 1: INTRODUCTION WHAT IS IO? MICRO REVIEW I NDUSTRIAL O RGANISATION The structure and organisation of markets The strategic interaction between firms Focus is on oligopoly markets INDUSTRIAL ORGANISATION (2011) TOPIC 1: INTRODUCTION WHAT IS IO? MICRO REVIEW S TRATEGIC INTERACTION Firms make many strategic choices prices and quantities product quality investment and R&D advertising and marketing Firms interact with many agents rival firms potential competitors input suppliers customers government and regulators INDUSTRIAL ORGANISATION (2011) TOPIC 1: INTRODUCTION WHAT IS IO? MICRO REVIEW IO QUESTIONS The study of IO helps us answer questions like What kind of market structure might we expect in a particular industry? How do we expect firms to behave in this industry? What are the consequences for consumers and firms? Should policy makers intervene to improve market outcomes? INDUSTRIAL ORGANISATION (2011) TOPIC 1: INTRODUCTION WHAT IS IO? MICRO REVIEW A ( VERY ) BRIEF HISTORY OF IO industry studies in-depth studies of specific industries cross-section studies Comparison of several industries...
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Lecture1_Intro - WHAT IS IO? MICRO REVIEW I NDUSTRIAL O...

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