Aims & Learning Objectives:
The aims of this unit are to provide students with an understanding of the basic economic concepts and methodological approaches available to assess the extent and nature of competition in the specific market/industry environments in which firms conduct their business.
The learning objectives are for students to:
a. Become proficient at analysing specific industry situations by contributing actively to class discussions and, through careful preparation.
b. Be able to apply basic economic concepts to: analyse the structure of industry; determine the key drivers of industry profitability, and conceptually understand how the firm may be influenced by and seek to influence the extent and nature of competition in its market environment.
Content:
Topics include: identifying the scope of the industry/market; the economic characteristics of the industry; the key drivers of profitability; and the dynamics of competition in different industrial settings. Case studies and readings will be used to develop understanding of chosen areas.
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