| Course Name | Industrial Organization |
| Code | Semester | Theory (hour/week) | Application/Lab (hour/week) | Local Credits | ECTS |
|---|---|---|---|---|---|
| ECON 412 | Fall/Spring | 3 | 0 | 3 | 6 |
| Prerequisites |
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| Course Language | English | |||||||||||||||||
| Course Type | Elective | |||||||||||||||||
| Course Level | First Cycle | |||||||||||||||||
| Mode of Delivery | - | |||||||||||||||||
| Teaching Methods and Techniques of the Course | ||||||||||||||||||
| Course Coordinator | - | |||||||||||||||||
| Course Lecturer(s) | ||||||||||||||||||
| Assistant(s) | ||||||||||||||||||
| Course Objectives | This course aims to provide students an advance level understanding of how certain industry structures form, criterias to differentiate industries, and welfare implications of different organizational forms and market practices. |
| Learning Outcomes | The students who succeeded in this course;
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| Course Description | This course examines in detail the different forms of organizational structures industries can form and strategic behavior of firms in such settings. We begin our lectures with a focus on the concept of a firm and its cost structure, developing the incentive mechanisms behind its actions. This will be followed by examination of different market structures in which an industry will be functioning. After studying individual firm behavior, we will concentrate on industries where multiple firms exist. In such industries behavior of a firm depends not only its internal structure (i.e. its cost structure) but also on the actions of the others. In this context we focus on Bertrand and Cournot equilibrium models as well as dynamic price competition and tacit collusion. We will then focus on various business practices of firms in different environments. Special emphasis on topics such as price discrimination, single and multi product pricing both in static and dynamic context will be given. |
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| Core Courses | |
| Major Area Courses | X | |
| Supportive Courses | ||
| Media and Managment Skills Courses | ||
| Transferable Skill Courses |
| Week | Subjects | Required Materials |
| 1 | Overview | Chapter 1 |
| 2 | The Firm and Costs / Competition | Chapter 2 and 3 |
| 3 | Competition | Chapter 3 |
| 4 | Monopoly | Chapter 4 |
| 5 | Review and MIDTERM I (April 8, 2022) | |
| 6 | Cartels / Oligopoly | Chapter 5 and 6 |
| 7 | Monopolistic Competition | Chapter 7 |
| 8 | Industry Structure and Performance | Chapter 8 |
| 9 | Price Discrimination | Chapter 9 |
| 10 | Review and MIDTERM II (May 13, 2022) | |
| 11 | Strategic Behaviour / Vertical Integration | Chapter 11 and 12 |
| 12 | How Markets Clear: Theory and Facts | Chapter 17 |
| 13 | Government Policies | Chapter 19 and 20 |
| 14 | PRESENTATIONS | |
| 15 | Review and FINAL EXAM | |
| 16 | Review of the Semester |
| Course Notes/Textbooks | Dennis W. Carlton, Jeffrey M. Perloff, (2005). Modern Industrial Organization (4th Edition). Pearson Press |
| Suggested Readings/Materials |
| Semester Activities | Number | Weigthing |
| Participation | 16 | 5 |
| Laboratory / Application | ||
| Field Work | ||
| Quizzes / Studio Critiques | ||
| Portfolio | ||
| Homework / Assignments | ||
| Presentation / Jury | 1 | 10 |
| Project | ||
| Seminar / Workshop | ||
| Oral Exam | ||
| Midterm | 2 | 45 |
| Final Exam | 1 | 40 |
| Total |
| Weighting of Semester Activities on the Final Grade | 100 | |
| Weighting of End-of-Semester Activities on the Final Grade | ||
| Total |
| Semester Activities | Number | Duration (Hours) | Workload |
|---|---|---|---|
| Course Hours (Including exam week: 16 x total hours) | 16 | 3 | 48 |
| Laboratory / Application Hours (Including exam week: 16 x total hours) | 16 | ||
| Study Hours Out of Class | 16 | 3 | 48 |
| Field Work | |||
| Quizzes / Studio Critiques | |||
| Portfolio | |||
| Homework / Assignments | |||
| Presentation / Jury | 1 | 5 | |
| Project | |||
| Seminar / Workshop | |||
| Oral Exam | |||
| Midterms | 2 | 25 | |
| Final Exams | 1 | 30 | |
| Total | 181 |
| # | Program Competencies/Outcomes | * Contribution Level | ||||
1 | 2 | 3 | 4 | 5 | ||
| 1 | To be able to acquire a sound knowledge of fundamental concepts, theories, principles and methods of investigation specific to the economic field. | X | ||||
| 2 | To be able to apply adequate mathematical, econometric, statistical and data analysis models to process economic data and to implement scientific research for development of economic policies. | X | ||||
| 3 | To be able to participate in academic, professional, regional, and global networks and to utilize these networks efficiently. | X | ||||
| 4 | To be able to have adequate social responsibility with regards to the needs of the society and to organize the activities to influence social dynamics in line with social goals. | |||||
| 5 | To be able to integrate the knowledge and training acquired during the university education with personal education and produce a synthesis of knowledge one requires. | |||||
| 6 | To be able to evaluate his/her advance level educational needs and do necessary planning to fulfill those needs through the acquired capability to think analytically and critically. | X | ||||
| 7 | To be able to acquire necessary skills to integrate social dynamics into economic process both as an input and an output. | X | ||||
| 8 | To be able to link accumulated knowledge acquired during the university education with historical and cultural qualities of the society and be able to convey it to different strata of society. | X | ||||
| 9 | To be able to take the responsibility as an individual and as a team member. | |||||
| 10 | To be able to attain social, scientific and ethical values at the data collection, interpretation and dissemination stages of economic analysis. | X | ||||
| 11 | To be able to collect data in economics and communicate with colleagues in a foreign language ("European Language Portfolio Global Scale", Level B1) | |||||
| 12 | To be able to speak a second foreign at a medium level of fluency efficiently. | |||||
| 13 | To be able to relate the knowledge accumulated throughout human history to their field of economics. | |||||
*1 Lowest, 2 Low, 3 Average, 4 High, 5 Highest
