Industrial economics [EFASB255]
- 5 credits
- 30h
- 2nd quarter
Language of instruction: French / FrançaisTeacher: Toulemonde Eric
Learning outcomes
Ability to formally apprehend the behaviors of agents who follow clearly defined objectives.
Use of rigorous reasoning.
Objectives
Use of rigorous reasoning to identify the consequences of the behaviors of agents interacting in small numbers with clearly defined objectives. Particular emphasis is placed on competition between a small number of firms.
Content
This course is a direct extension of the microeconomics course. It aims to introduce you to methods of economic analysis in two specific directions: 1. In terms of methods, it completes the 'toolbox' of the microeconomics course by extending the models of rational choices to strategic situations and uncertainty. 2. On the subject of investigation, we will study in detail the situations of imperfect competition, and some specific markets (auctions, risk).
Table of contents
1. Monopoly 2. Game theory 3. Oligopoly 4.Monopoly behavior 5. Auction theory 6. Asymmetric information
Teaching methods
With the exception of the first class session, the course will be entirely distance learning. You will find on webcampus the complete slides of the course, chapter by chapter. These slides present
- the subject matter approached in a theoretical way (one file per chapter),
- exercises that illustrate the material. The exam will only cover such exercises
All these slides are also presented in video capsules which present the material, chapter by chapter. The slides of the same chapter are presented in several capsules, in order to keep each capsule relatively short. You can therefore view each video at different times, depending on your schedule.
Each week, you will go deeper into a chapter on your own. To do this, you must
- watch the video clips related to the theory of the chapter,
- try to solve by yourself the exercises proposed,
- watch the video clips on how to solve the exercises.
Each week, a question and answer session is organized on Teams (30 to 45 minutes).
- During this session, you will have the opportunity to ask questions related to the weekly chapter.
- No new material is covered in these sessions.
Two important notes:
- You must have viewed the vignettes BEFORE each Teams session. It is important to keep the rhythm: one week - one chapter.
- It is very important to have tried to solve the exercises on your own BEFORE viewing the solution on a capsule.
A little trick to spend less time (re-)watching a video: don't hesitate to increase the speed of the video; even at fast speed the video remains very audible.
Evaluations
The exam is written, closed-book and lasts two hours, in person.
The material is covered in the slides and video capsules on Webcampus.
Recommended readings
H. Varian, Introduction à la microéconomie, De Boeck
Slides and some video capsules on webcampus
Language of instruction
French / FrançaisLocation for course
NAMUROrganizer
Faculté des sciences économiques, sociales et de gestionRue de Bruxelles, 61
5000 NAMUR
