|Delivery length / details
|22 x 1 Hour Lectures
|5 x 1 Hour Seminars
|Assessment length / details
|3 Hours Unseen written examination
|Coursework assignment 1500 words
|3 Hours Unseen written examination Repeat failed element
|Coursework assignment 1500 words Repeat failed element
On successful completion of this module students should be able to:
* The role of markets and firms as alternative coordinating mechanisms;
* Transaction cost economics;
* The determination of firm boundaries with respect to diversified and vertically integrated activities;
* Internal organisational forms;
* The implications of the separation of the ownership and management (control) functions;
* Principal-agent theory and incentive contracts;
* The form, implications and limitations of the structure-conduct-performance paradigm;
* The relationship between, and evidence regarding, profitability and market structure;
* The purpose, design and implementation of competition policy;
* Innovation and its promotion.
The module is divided into two parts. The first section investigates economic explanations of the nature of firms and the scope of their activities. It also examines the internal organisation of firms, with particular regard to decision-making and the control problems that may occur, together with the implictions of the separation of ownership from managerial control. The second section focuses on industry and market structures, and examines the relationship between structural characteristics and firm behaviour, and various aspects of firm and industry performance. It also examines the form and purpose of competition policy and of policies to promote technological change.
This third year module is delivered by lectures and tutorial classes and assessed by coursework essay and final examination. It treats the nature and scope of firms activities and various issues relating to industrial structure and policy.
- Economic Co-ordination: Firms, Markets and Organisations
- Firm Boundaries: Vertical Integration
- Firm Boundaries: Diversification
- Internal Organisation
- Ownership and Control
- Structure, Conduct and Performance
- Profitability and Market Structure
- Competition Policy
- Innovation: Theory and Policy
The coursework assignment requires students to display and develop preparation, research, writing and referencing abilities within set deadlines. The final examination requires rigorous preparation and assimulation of material prior to structured thought and essay writing within a fixed time period.
This module is at CQFW Level 6