Course Details
Subject {L-T-P / C} : HS1349 : Industry and Development { 3-0-0 / 3}
Subject Nature : Theory
Coordinator : Dr. Ipsita Roy
Syllabus
Unit-1: Introduction to Industrial economics - nature and scope - concept of firm and industry - types of firms - structure, conduct and performance of the firm.
Unit-2: Standard forms of market structure - pricing strategies and output determination of firms - profit maximization, sales maximization (William J. Baumol), utility maximization (Oliver E. Williamson), growth maximization (George K. Yarrow) - equilibrium of firms under perfect competition, monopoly, monopolistic competition and oligopoly - optimum price and output - economies of scale.
Unit-3: Price competition and non-price competition - strategic behaviour of firms - collusion and mergers - game theory - market failures and information asymmetry - advertising and product differentiation - market entry and exit - market concentration and diversification - R&D and innovation.
Unit-4: Productivity and efficiency Industrial productivity and development in India classification of industries Industrial policy and Indian Planning recent trends in Indian industrial growth
Course Objectives
- Identify and analyze the behavior of a firm under different market situations in a systematic way.
- Understand and assimilate the issues related to strategic behaviour in firms, R&D and innovation.
- Have a comprehensive coverage of firms' profitability and efficiency measurements, with applications to India's industrial structure.
Course Outcomes
Upon completion, students should have an in-depth knowledge of <br />i. Market structure, conduct and performance <br />ii. Strategic behaviour in firms <br />iii. Innovation, R&D and the market <br />iv. Industrial efficiency and its applications for the Indian economy.
Essential Reading
- Donald A. Hay, Derek J. Morris, Industrial Economics: Theory and Evidence, Oxford University Press, 1979
- R. R. Barthwal, Industrial Economics: An Introductory Textbook, New Age International Publishers, 2007
Supplementary Reading
- A. Singh and A.N. Sandhu, Industrial Economics, Himalaya Publishing House, Bombay, 1988
- Stephen Martin, Advanced Industrial Economics, Oxford, UK Blackwell Publisher, 2002