Learning outcomes of the course unit
The main objective of this course is to re-examine the most fundamental question in the studies of Industrial Economics (IE), i.e. the relation between «size» and «concentration» of the market. A second objective is to offer methodological tools for the analysis of productive sectors (or industries). In both cases, the «single European market» will be the reference point.
Good knowledge of Microeconomics
Course contents summary
i) The «Harvard School » (E. Mason and J.Bain): the traditional paradigm of IE in the Forties (Structure-conduct-performance, S-C-P) and its subsequent development;
ii) The «Chicago School» of G. Stigler (Sixties);
iii) The «New» IE: market mechanisms and strategic behaviour (A. Jaquemin, Eighties);
iv) The «review» of J. Sutton (Nineties): the role of product differentiation and of «sunk costs» (investment in advertising and R&D);
v) The new European oligopoly: some evidence;
vi) SMEs, «clusters» and industrial districts;
vii) Public regulations and competition policy.
Attendance is recommended: some specific cases of Italian and European productive sectors will be presented and discussed in class. Moreover, a cycle of seminars will be held by distinguished lecturers from both the academic and the business community (the seminars will be communicated in class or through the Professor’s homepage).