The objective of this course is to apply microeconomic concepts and tools to the issues of Competition Policy. Besides the theoretical analysis of the questions involved, attention will be devoted to policy issues, and to the approaches followed in the EU. Some knowledge of market interaction theory is helpful but no pre-requisite course exists: some standard IO models will be overviewed in the beginning of the course.
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Competition Policy – Theory and Practice, by Massimo Motta, Cambridge University Press, (2004)
Industrial Organization: Markets and Strategies, by Paul Belleflamme and Martin Peitz, Cambridge University Press, (2010)
Industrial Organization: A Strategic Approach, by Jeffrey Church and Roger Ware, Mc-Graw Hill (2000)
The course will have a mix of ex-cathedra sessions, class discussions and take-home problem- solving questions.
Final exam – 50% (no minimum grade required). Midterm exam – 30%
Assignments – 20%
Participation in class – final grade adjustments of up to 2 points (upwards or downwards) can be made based on participation in class. It is not required that you talk a lot in class to satisfy this criterion. If you cannot attend lectures on a regular basis, please inform during the first week.
Assignments (individual work):
i) You are required to select a country of your choice, and provide a summary report on its competition policy, according to the points detailed in the assignment description. The objective of the assignment is to get you acquainted with the competition policy that applies to that country, in comparison with European Union rules. Maximum size: 4 pages, 12 pts, arial, 1,5 space.
Deliver the assignment by 23h59 of 12th November, verified by upload date in Moodle (mandatory).
ii) You are required to select a merger case from http://ec.europa.eu/competition/elojade/isef/index.cfm?policy_area_id=0, present the parties involved and the type of operation and summarize how the EC defined the relevant product and geographic markets. Maximum size: 2 pages, 12 pts, arial, 1,5 space.
Deliver the assignment by 23h59 of 21th November, verified by upload date in Moodle (mandatory).
• Game Theory and Classic Models of Oligopoly.
• Market Power and welfare.
• Definition of relevant markets.
• Collusion. Leniency.
• Horizontal mergers.
• Vertical restraints
• Predatory strategies.
Programs where the course is taught: