This unit is concerned with the study of the economic theory of industrial organisation with an emphasis on oligopoly behaviour and its market outcomes. The unit examines market competitiveness in the framework of general equilibrium theory, as pioneered by Arrow and Debreu; monopoly and nonlinear pricing strategies; dynamic oligopoly; welfare outcomes of industrial organisation; and some aspects of government policy and regulation, especially in relation to mergers and collusion.
At the completion of this unit, you should be able to:
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