Syllabus

Unit-1: Introduction to Industrial economics nature and scope concept of firm, market and industry structure, conduct and performance of the firm basics of production, costs and elasticity, economies of scale and scope elasticity.

Unit-2: Standard forms of market structure pricing strategies and output determination of firms equilibrium of firms under perfect competition, monopoly, monopolistic competition and oligopoly, price discrimination.

Unit-3: Strategic behaviour of firms game theory oligopoly models (Cournot, Sweezy, Bertrand, Stackelberg, Cartel), advertising and product differentiation market entry and exit collusion and mergers market diversification.

Unit-4: SCP paradigm productivity and efficiency.

Identify and analyse the microeconomic behaviour of a firm under different market situations in a systematic way.

Understand and assimilate the issues related to strategic decision making in oligopoly firms.

Have a comprehensive coverage of profitability and efficiency concepts.

Upon completion of this course, students will:
1. Have an in-depth understanding of market structures, conduct and performance in an economy
2. Be able to critically analyse strategic behaviour of firms and relate them to current scenarios in the Indian economy
3. Evaluate how firms make advertising, product differentiation, diversification and entry/exit decisions for market performance
4. Understand the concepts of efficiency, productivity and profitability of firms with examples from the Indian economy.

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

A. Singh and A.N. Sandhu, Industrial Economics, Himalaya Publishing House, Bombay , 1988

Karl E. Case, Ray C Fair and Sharon M. Oster, Principles of Economics, Boston: Pearson , 2007