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Microeconomics II
Part A: Industrial Economics
Part B: Environmental Economics and Energy Economics

Module Code: EEC7002

  • ECTS Credit: 10
  • Mandatory/Optional: Mandatory
  • Module Coordinator: Prof Francis O'Toole; Dr. Claudia Aravena Novielli.

Aims of Module

(a) The first half of this module will focus on Industrial Organisation Theory with a focus on applied topics involving competition policy and regulation.

(b) The second half of this module will introduce students to a number of applied areas in microeconomics including Environmental Economics and Energy Economics.

Module Delivery

The module will be delivered through a combination of lectures (18 hours) and tutorials (9 hours). Problems are circulated each week and answers are submitted before the next week's tutorial, at which they are discussed.

Learning Outcomes

On completion of the module students should be able to use economic tools to solve applied microeconomic problems in a number of areas and to use game-theoretic tools to address competition and regulatory issues/problems. Students will be also able to use economic tools to value the environment and perform cost-benefit and efficiency analysis.

Syllabus

Topics covered in this module include:

Part A: Industrial Economics

  1. Horizontal Mergers: Theory, Policy and Welfare
  2. Vertically Restrictive Price Agreements: Theory, Policy and Welfare
  3. Product Differentiation and Welfare
  4. Exclusivity Agreements and Welfare: Exclusive Purchasing

Part B : Environmental and Energy Economics

  1. Environmental Valuation I: Revealed Preference Methodologies
  2. Environmental Valuation II: Stated Preference Methodologies
  3. Policy Instruments: Taxes, Subsidies and Tradable Permits
  4. Property Rights.
  5. Applications to Energy Economics in developed and developing countries.

Assessment

Assessment for the course is based on weekly problem sets and one 3-hour examination.