ECC4840

Economics of industry, institution and organisation ( 6 points, SCA Band 2, 0.125 EFTSL)

Leader: Dr Zhongmin Wang

Offered:
Clayton Second semester 2005 (Day)

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%

Contact Hours: Three contact hours per week

Prerequisites: ECC2000 or equivalent or ECC2830