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

Course Outcomes

Upon completion, students should have an in-depth knowledge of
i.   Market structure, conduct and performance
ii.  Strategic behaviour in firms
iii.  Innovation, R&D and the market
iv.  Industrial efficiency and its applications for the Indian economy.

Essential Reading

Supplementary Reading