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Unit outline_

ECOS3005: Industrial Organisation

Intensive February, 2022 [Block mode] - Remote

This unit of study examines the nature of inter-firm rivalry in industries with market power. It explores the various ways in which firms can increase their market power by: extracting more surplus from consumers, by colluding with rivals or by excluding entrants. The unit also analyses the international competitiveness of industries in the context of industry assistance and the prevalence of foreign multinationals. Competition policy is also discussed.

Unit details and rules

Academic unit Economics
Credit points 6
Prerequisites
? 
ECOS2001 or ECOS2901
Corequisites
? 
None
Prohibitions
? 
ECOS2201
Assumed knowledge
? 

None

Available to study abroad and exchange students

Yes

Teaching staff

Coordinator Andrew Wait, andrew.wait@sydney.edu.au
Lecturer(s) Andrew Wait, andrew.wait@sydney.edu.au
Type Description Weight Due Length
Assignment Essay assignment
Essay/written analysis
10% Week -04
Due date: 08 Feb 2022 at 17:00
500 words
Outcomes assessed: LO1 LO2 LO3 LO4 LO5 LO6
In-semester test (Open book) Type C in-semester exam Mid-semester exam 1
Mid-semester exam 1
20% Week 02
Due date: 27 Jan 2022 at 10:30
1 hour
Outcomes assessed: LO1 LO2 LO3 LO4 LO5 LO6
In-semester test (Open book) Type C in-semester exam Mid-semester exam 2
Mid-semester exam 2
20% Week 03
Due date: 03 Feb 2022 at 10:30
1 hour
Outcomes assessed: LO1 LO2 LO3 LO4 LO5 LO6
Final exam (Open book) Type C final exam Final Exam
Final Exam
50% Week 04
Due date: 10 Feb 2022 at 10:00
2 hours
Outcomes assessed: LO1 LO2 LO3 LO4 LO5 LO6
Type C in-semester exam = Type C in-semester exam ?
Type C in-semester exam = Type C in-semester exam ?
Type C final exam = Type C final exam ?

Assessment summary

This unit uses standards-based assessment for award of assessment marks. Your assessments will be evaluated solely on the basis of your individual performance

General advice on grade descriptors are available on the University of Sydney Current Students website: https://sydney.edu.au/students/guide-to-grades.html

Assessment criteria

The University awards common result grades, set out in the Coursework Policy 2014 (Schedule 1).

As a general guide, a High distinction indicates work of an exceptional standard, a Distinction a very high standard, a credit a good standard, and a pass an acceptable standard.

Result name

Mark range

Description

High distinction

85 - 100

 

Distinction

75 - 84

 

Credit

65 - 74

 

Pass

50 - 64

 

Fail

0 - 49

When you don’t meet the learning outcomes of the unit to a satisfactory standard.

 

.

For more information see guide to grades.

Late submission

In accordance with University policy, these penalties apply when written work is submitted after 11:59pm on the due date:

  • Deduction of 5% of the maximum mark for each calendar day after the due date.
  • After ten calendar days late, a mark of zero will be awarded.

This unit has an exception to the standard University policy or supplementary information has been provided by the unit coordinator. This information is displayed below:

In accordance with University policy, these penalties apply when written work is submitted after 11:59pm on the due date: Deduction of 5% of the maximum mark for each calendar day after the due date. After ten calendar days late, a mark of zero will be awarded.

Academic integrity

The Current Student website  provides information on academic integrity and the resources available to all students. The University expects students and staff to act ethically and honestly and will treat all allegations of academic integrity breaches seriously.  

We use similarity detection software to detect potential instances of plagiarism or other forms of academic integrity breach. If such matches indicate evidence of plagiarism or other forms of academic integrity breaches, your teacher is required to report your work for further investigation.

You may only use artificial intelligence and writing assistance tools in assessment tasks if you are permitted to by your unit coordinator, and if you do use them, you must also acknowledge this in your work, either in a footnote or an acknowledgement section.

Studiosity is permitted for postgraduate units unless otherwise indicated by the unit coordinator. The use of this service must be acknowledged in your submission.

Simple extensions

If you encounter a problem submitting your work on time, you may be able to apply for an extension of five calendar days through a simple extension.  The application process will be different depending on the type of assessment and extensions cannot be granted for some assessment types like exams.

Special consideration

If exceptional circumstances mean you can’t complete an assessment, you need consideration for a longer period of time, or if you have essential commitments which impact your performance in an assessment, you may be eligible for special consideration or special arrangements.

Special consideration applications will not be affected by a simple extension application.

Using AI responsibly

Co-created with students, AI in Education includes lots of helpful examples of how students use generative AI tools to support their learning. It explains how generative AI works, the different tools available and how to use them responsibly and productively.

WK Topic Learning activity Learning outcomes
Pre-semester Introduction: Basic microeconomic concepts, Game theoretic tools; Cabral (2017), Chapters 1, 2, 7 Online class (3 hr) LO1 LO2 LO4
The firm, Competition; Chapter 3 & 4 Online class (3 hr) LO1 LO2
Monopoly; Chapters 5 & 6 Online class (3 hr) LO1 LO3 LO6
Oligopoly, Collusion; Chapters 8 & 9 Online class (3 hr) LO3 LO4 LO5 LO6
Market structures; Chapter 10 Online class (3 hr) LO3 LO6
Mid-semester exam no. 1 Online class (3 hr) LO1 LO2 LO3 LO4 LO5 LO6
Horizontal mergers, foreclosure; Chapter 11 & 12 Online class (3 hr) LO1 LO4 LO6
Vertical relations; Chapter 13 Online class (3 hr) LO1 LO2 LO3 LO4 LO5 LO6
Mid-semester exam no. 2 Online class (3 hr) LO1 LO2 LO3 LO4 LO5 LO6
Product differentiation; Chapter 14 Online class (3 hr) LO1 LO2 LO3 LO4 LO5 LO6
Innovation; Chapter 15 Online class (3 hr) LO1 LO5 LO6
Final exam Online class (3 hr) LO1 LO2 LO3 LO4 LO5 LO6

Attendance and class requirements

  • Attendance: According to Faculty Board Resolutions, students in the Faculty of Arts and Social Sciences are expected to attend 90% of their classes. If you attend less than 50% of classes, regardless of the reasons, you may be referred to the Examiner’s Board. The Examiner’s Board will decide whether you should pass or fail the unit of study if your attendance falls below this threshold.

  • Lecture recording: Most lectures (in recording-equipped venues) will be recorded and may be made available to students on the LMS. However, you should not rely on lecture recording to substitute your classroom learning experience.

  • Preparation: Students should commit to spend approximately three hours’ preparation time (reading, studying, homework, essays, etc.) for every hour of scheduled instruction.

Study commitment

Typically, there is a minimum expectation of 1.5-2 hours of student effort per week per credit point for units of study offered over a full semester. For a 6 credit point unit, this equates to roughly 120-150 hours of student effort in total.

Required readings

Cabral, Luis (2017) Introduction to Industrial Organization, MIT Press, Second Edition.

Learning outcomes are what students know, understand and are able to do on completion of a unit of study. They are aligned with the University's graduate qualities and are assessed as part of the curriculum.

At the completion of this unit, you should be able to:

  • LO1. Understand how markets allocate and generate surplus.
  • LO2. Understand the role of the firm in the economic system and analyse what determines the boundaries of a firm
  • LO3. Use economic models to critically analyse the relationship between market structure and market outcomes.
  • LO4. Use game theoretic tools to analyse firm strategy concerning output and pricing decisions
  • LO5. Making use of appropriate economic models, analyse firm behaviour in dynamic scenarios (that is, timing of actions is important)
  • LO6. Critically evaluate the role of government in addressing potential market failures and regulating markets

Graduate qualities

The graduate qualities are the qualities and skills that all University of Sydney graduates must demonstrate on successful completion of an award course. As a future Sydney graduate, the set of qualities have been designed to equip you for the contemporary world.

GQ1 Depth of disciplinary expertise

Deep disciplinary expertise is the ability to integrate and rigorously apply knowledge, understanding and skills of a recognised discipline defined by scholarly activity, as well as familiarity with evolving practice of the discipline.

GQ2 Critical thinking and problem solving

Critical thinking and problem solving are the questioning of ideas, evidence and assumptions in order to propose and evaluate hypotheses or alternative arguments before formulating a conclusion or a solution to an identified problem.

GQ3 Oral and written communication

Effective communication, in both oral and written form, is the clear exchange of meaning in a manner that is appropriate to audience and context.

GQ4 Information and digital literacy

Information and digital literacy is the ability to locate, interpret, evaluate, manage, adapt, integrate, create and convey information using appropriate resources, tools and strategies.

GQ5 Inventiveness

Generating novel ideas and solutions.

GQ6 Cultural competence

Cultural Competence is the ability to actively, ethically, respectfully, and successfully engage across and between cultures. In the Australian context, this includes and celebrates Aboriginal and Torres Strait Islander cultures, knowledge systems, and a mature understanding of contemporary issues.

GQ7 Interdisciplinary effectiveness

Interdisciplinary effectiveness is the integration and synthesis of multiple viewpoints and practices, working effectively across disciplinary boundaries.

GQ8 Integrated professional, ethical, and personal identity

An integrated professional, ethical and personal identity is understanding the interaction between one’s personal and professional selves in an ethical context.

GQ9 Influence

Engaging others in a process, idea or vision.

Outcome map

Learning outcomes Graduate qualities
GQ1 GQ2 GQ3 GQ4 GQ5 GQ6 GQ7 GQ8 GQ9

This section outlines changes made to this unit following staff and student reviews.

This unit has been redesigned.

Disclaimer

The University reserves the right to amend units of study or no longer offer certain units, including where there are low enrolment numbers.

To help you understand common terms that we use at the University, we offer an online glossary.