Industrial Organization: Strategy and Competition in Business
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Course Summary
This course on Industrial Organization explores how firms compete and how markets work. You will learn about market structure, strategic behavior, price discrimination, and more.Key Learning Points
- Understand how market structure affects firm behavior
- Learn how firms can use strategic behavior to gain a competitive advantage
- Explore the concept of price discrimination and how it can be used in different markets
Related Topics for further study
Learning Outcomes
- Analyze market structure and its impact on firm behavior
- Evaluate the use of strategic behavior by firms
- Identify the various types of price discrimination and their applications
Prerequisites or good to have knowledge before taking this course
- Basic knowledge of microeconomics
- Familiarity with calculus and algebra
Course Difficulty Level
IntermediateCourse Format
- Online self-paced
- Video lectures
- Assignments
Similar Courses
- Game Theory
- Microeconomics Principles
Related Education Paths
Notable People in This Field
- Jean Tirole
- Oliver Hart
Related Books
Description
Industrial Organization is the area of economics that studies the markets as institutions, the state of competition and strategic interaction among firms, the industrial policy and the business decisions firms make within the market framework. The course looks at the markets from three different perspectives: the economic theory, the applied business perspective and the institutional and legal perspective. The focus of the course is split equally between the economic theory and business perspective but there is a significant legal component incorporated in various topics. The course includes economic modeling, game theory, numerous real life examples and several case studies. We explore interesting topics of market organization such as negotiations, antitrust, networks, platforms, electronic markets, intellectual property, business strategies, predation, entry deterrence and many others.
Outline
- The firm
- About the University
- Course promo
- 1. Tour of the course
- 2. What is a firm?
- 3. The technological view
- 4. Economies and concentration
- 5. Incomplete contract
- 6. Informational asymmetries
- 7. Long-run relationship
- 8. Vertical relationship model
- 9. Case: GM vs. Fisher Body
- About University
- Welcome note
- Rules on the academic integrity in the course
- Copy of Welcome note
- Readings & Links
- The firm
- Game theory foundations
- 1. Games and strategic decisions
- 2. The bi-matrix and strict dominance
- 3. Dominant Equilibrium
- 4. Nash Equilibrium
- 5. Interesting cases of NE
- 6. The prisoner’s dilemma
- 7. Case: The cheater’s dilemma
- 8. Repeated games
- 9. Dynamic games
- 10. Example: Energon vs. Orange
- Readings & Links
- Game theory foundations
- Static competition
- 1. Introduction to competition
- 2. Competition in quantities
- 3. Application: Linear demand – constant cost
- 4. First mover advantage
- 5. Competition in prices
- 6. The Bertrand Paradox
- 7. Capacity constraints
- 8. Differentiated products
- 9. Application: Differentiated products
- 10. The prospect of collusion
- Readings & Links
- Static competition
- Dynamic competition
- 1. Repeated interaction
- 2. Infinite horizon
- 3. Renegotiation
- 4. Price wars
- 5. Establishing collusion
- 6. Complications: asymmetries and heterogeneity
- 7. Complications: volatility and structure
- 8. Antitrust
- 9. Prosecution is not straightforward
- 10. Detection
- Readings & Links
- Dynamic competition
- Deterrence and predation
- 1. Strategic deterrence
- 2. Dynamic deterrence: setting
- 3. Dynamic deterrence: preemption
- 4. The chain-store paradox
- 5. Strategic relevance
- 6. General entry setting
- 7. The 4 business strategies
- 8. Contestable markets
- Readings & Links
- Deterrence and predation
- Price discrimination
- 1. Single price vs. multiple prices
- 2. First degree PD
- 3. Third degree PD
- 4. Second degree PD
- 5. The Polaroid case of tie-in sales
- 6. Quantity discounts, block pricing, coupons
- 7. Intertemporal, peak-load, special editions
- 8. Bundling
- 9. Legal framework for PD
- Readings & Links
- Price Discrimination
- Product differentiation
- 1. Differentiation as competition
- 2. The linear city
- 3. Dynamic linear city
- 4. Circular location
- 5. Proliferation
- 6. Two rebranding tragedies
- 7. Differentiation in quality
- Readings & Links
- Product differentiation
- Vertical relations
- 1. Vertical relation setting
- 2. Vertical restraints
- 3. Pre-sale services
- 4. Resale Price Maintenance
- 5. The Levi’s Strauss case
- 6. Exclusive dealing
- 7. Case: Coke and Pepsi refrigerators
- 8. Exclusive territories and modern practices
- 9. Distribution systems and Policy
- Reading & Links
- Vertical relations
- Networks and platforms
- 1. Network effects
- 2. Network model
- 3. Stability of equilibrium
- 4. Critical mass
- 5. Path dependence
- 6. Platforms vs. markets
- 7. Platform instruments
- 8. Case: The OS platforms
- 9. Case: Video game platforms
- Readings & Links
- Networks and platforms
- Intellectual property
- 1. IP as an institution
- 2. Not a straightforward issue
- 3. Copyright
- 4. Nature, rights and duration
- 5. Patents and trade secrets
- 6. Trademarks
- 7. International IP
- 8. Final note – Good bye
- Readings & Links
- Intellectual property
Summary of User Reviews
Discover the principles of Industrial Organization with Coursera's course. This program has received positive reviews from students who appreciated the course's comprehensive coverage of the topic, engaging lectures, and practical applications. Many users found the course to be insightful and helpful in understanding the workings of industries and markets.Key Aspect Users Liked About This Course
Comprehensive coverage of Industrial Organization principlesPros from User Reviews
- Engaging lectures with practical applications
- Insightful and helpful in understanding industries and markets
- In-depth coverage of the topic
- Flexible schedule and self-paced learning
- Good value for the money
Cons from User Reviews
- Some users found the course to be too basic or introductory
- Lack of interaction and feedback from instructors
- Technical issues with the platform
- Limited opportunities for networking and collaboration
- Not suitable for those looking for a more advanced or specialized course
Kosmas Marinakis
4.8 Raiting
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