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◄Faculty of Economics and Administration►

Synopsis of Course This graduate level course seeks to expose students to the
Contents study of how firms are organized internally and externally
using the typical industrial organization instruments that the
embedding environment (structure) and the nature of its
integration in markets influence conduct and performance of
firms. The course starts with a discussion of the conduct of
firms in standard markets – perfectly competitive,
monopolistic (monopsonistic) and monopoly (monopsony).
It will then seek to explain why firms exist and why their
sizes vary from micro family firms to large firms to
multinational corporations. Related topics associated with
the conduct of firms such as product differentiation, vertical
restraints, auction and regulation will also be examined.
Game theory will be used to predict alternative outcomes of
firms attempting to set quantity or price in oligopolistic
markets. The course will also examine public policy
responses to scale, market power and competition. The
lectures will be supplemented by seminars to examine
some of the classic papers in the field as well as recent
developments in industrial organization theory.
Assessment Methods Continuous Assessment: 70%
Final Examination: 30%
Main Reference (1) Greer, D. (1992) Industrial Organization and Public
Policy, Basingstoke: MacMillan.
(2) Shy, O. (1995) The Theory of Industrial Organization,
Cambridge: MIT Press
(3) Tirole, J. (1988) The Theory of Industrial Organization,
Cambridge: MIT Press
(4) Schmalensee, R. and Willig, R. (eds). (1989)
Handbook of Industrial Organization, Princeton:
Princeton University Press.
(5) Stiglitz, J. And Mathewson, F. (1985) New
Developments in the Analysis of Market Structure,
Cambridge: MIT Press.

EXGA6303 APPLIED MACROECONOMICS
Learning Outcomes At the end of the course, students are able to:

(1) Analyse macroeconomic fluctuations in the economy;
(2) Compare real macroeconomic shocks with nominal
macroeconomic shocks; and
(3) Examine main policy issues related to
macroeconomic problems, eg. in the money market
and goods market.

Synopsis of Course This course aims to deepen the knowledge of
Contents macroeconomics in empirical analyses. First, nominal time-
series macroeconomic data are collected and systematized
into real macroeconomic aggregate data. Econometric
techniques are then applied to identify these
macroeconomic time-series processes and properties.
Finally, policy issues related to macroeconomic problems,
in particular in the money/foreign exchange markets,
labour/goods markets are discussed. Macroeconomic
theories are applied to understand these structures and

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