ECC4840

Economics of industry, institution and organisation

(BUS)

Professor Xiaokai Yang

7 points + Two 1.5 hour lectures per week + Second semester + Clayton + Prerequisite: ECC2000 or equivalent or ECC2830

Synopsis: Theories of the firm, contract, property rights structure, market structure, hierarchy, bargaining, principal-agent relationship, research and development, advertising, and entry, exit, and pricing strategy. The equilibrium implications of the internal organisation of a firm and the organisational structure of the market in relation to strategic interactions between agents, information problems and related incentive mechanisms. Basic game theory and concepts of game equilibrium applied to the analysis of opportunistic behaviour and related transactions costs.

Assessment: Written (3000-word essay): 30% + Examination (3 hours): 70%