Module code: EC3023
Industrial economics takes a look at the decision making and economic policies underlying firms, corporations and markets from a wide range of industries. Take a look at some of the major corporations and you will notice that certain industries have companies that absolutely dominate the field with no competitors or rivals. In this module you will take a look at how these companies stay ahead - how do they sustain a competitive advantage - and how did they get to where they are? What factors influence the size of these companies?
If you've never noticed that companies known for specific brands are more likely to own other well-known brands - then take a look at P&G, most commonly associated with shampoos, and see how many household items they produce or even Mars – how many of your favourite chocolates are all from the same company? This module will try to outline these topics to help you gain a better understand of the strategic interaction framework to explain the behaviour of firms.