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Course Contents

 Scope of Industrial Economics • Scope of Industrial Economics and its History  Theory of the Firm • Production Process and Costs • Production Function • Cost Function and Multiple Output Cost Functions  Theory of the Firm: Alternative Approaches • Transaction Cost Theory • Property Right Theory • Agency Theory • Resource Based Theory  Organization of the Firm • Procuring Inputs • Specialized Investments • Optimal Input Procurement  Market Structures • Perfect Competition • Monopoly • Monopolistic Competition • Oligopoly  Nature of Industry • Firm Size and Industry Concentration • Technology, Demand and Market Conditions • Pricing Behaviour, Integration and Merger  Industrial Location Analysis • General Determinants of Industrial Location • Approaches to Industrial Location Analysis • Operational Approach to Industrial Location  Industry and Innovation • Process of Innovation: Concepts and Relationship • Measurement of Innovation Activities • Theory of Technological Innovation • Diffusion of New Technology  Government Regulation of Industry • Need for Government Intervention in Industry • Ways and Means of Government Regulation of Industries • Social Control Over Industry  Industrial Agglomeration • Measuring Agglomeration • Population and Housing Price Growth • Sources of Agglomeration • Congestion Costs • Agglomeration Economies and Public Policy

Course Synopsis

This course analyzes the problems of the real economy that cannot be described within the framework of a classical economic theory that is taught in traditional microeconomics and macroeconomics. The course will cover all the main fields of industrial organization theory: theory of a firm, the theory of imperfect competition, and the theory of economic regulation. The students are presumed to be familiar with the standard courses in microeconomics and macroeconomics.

Course Learning Outcomes

Upon completing this course, the students shall be able to: 1. Understand basic models of the behaviour of firms and industrial organization and how they can be applied to policy issues. 2. Be familiar with the role of regulation and technological innovation in industries 3. Understand the importance of agglomeration economics and their policy implications

lecture notes: introduction to industrial economics and theory of the firm: alternative approaches by R.R Barthwal

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video lecture: introduction to industrial economics, scope of industrial economics

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Production and Costs

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Nature of Industry

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Organization of the Firm

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industrial location analysis

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Industry and Innovation

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Industry and Regulation

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Book Title : Industrial Economics: An Introductory Textbook
Author : R. R. Barthwal
Edition : revised third edition
Publisher : New Age International
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Book Title : Managerial Economics and Business Strategy
Author : Michael R. Baye
Edition : latest
Publisher : McGraw- Hill
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Title : Market Structures: Perfect Competition, Monopoly, Monopolisitc Competition and Oligopoly
Type : Presentation

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Title : Production process and costs
Type : Presentation

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Title : Industrial agglomeration
Type : Other

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Title : Managerial Economics and Business Strategy
Type : Reference Book

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