|Assessment length / details
|Group Work (40 minutes)
|Written Essay (2,000 words) (2000 words)
|Essay Students must take elements of assessment equivalent to those that led to failure of the module. (2000 words)
|3 Hours Students must take elements of assessment equivalent to those that led to failure of the module.
On successful completion of this module students should be able to:
1. Understand and evaluate the role of markets and firms as alternative coordinating mechanisms;
2. Distinguish between the main theories of the firm, and critically evaluate their views on the nature of the firm;
3. Demonstrate an understanding of factors determining horizontal and vertical boundaries of the firm;
4. Demonstrate an understanding of the various forms of market structure and how firms acquire and maintain market power, and approaches to the regulation of market power;
5. Demonstrate an awareness of the form and purpose of competition policy and of policies to promote innovation.
This module examines the nature and scope of firms’ activities, and various issues relating to industrial structure and policy. The first part investigates economic explanations of the nature of firms and the scope of their activities, vertical integration, merger and acquisition strategies, diversification, and the internal organization of firms, including corporate governance. The second part examines the relationship between industry and market structure, and firm behavior and performance. Competition policy and technological change are also examined.
• Vertical Boundaries of the Firm: Vertical Integration
• Horizontal Boundaries of the Firm: Diversification
• Internal organization of the firm
• Market Structure: Perfect competition, Monopoly, Oligopoly,
• Product differentiation and Monopolistic Competition
• Competition Policy
• Innovation: Theory and Policy
|Application of Number
|Treatment of numerical problems in tutorial exercises and examination.
|Written communication through essay writing.
|Improving own Learning and Performance
|In preparation for, attending and participating in and reflecting on tutorial classes. Preparation and production of assignment, and revision and preparation for the final examination.
|Appropriate accessing of the internet for reference material. Accessing course information and documents from Blackboard, and use of word-processing skills for the assignment.
|Personal Development and Career planning
|Development of various transferable personal and interpersonal skills, including time-management, critical thinking, writing structured arguments.
|Developed in lectures and applied in tutorials.
|Assessment through essay enhances research, writing and referencing skills.
|Subject Specific Skills
|Assignments and exams will require students to develop an understanding of business organization and the functioning of industries and markets.
This module is at CQFW Level 5