ECON451 INDUSTRIAL ECONOMICS
| Course Code: | 3110451 |
| METU Credit (Theoretical-Laboratory hours/week): | 3 (3.00 - 0.00) |
| ECTS Credit: | 6.0 |
| Department: | Economics |
| Language of Instruction: | English |
| Level of Study: | Undergraduate |
| Course Coordinator: | Prof.Dr. EROL TAYMAZ |
| Offered Semester: | Fall Semesters. |
Course Objectives
The main objective is to enable students to understand and analyze for themselves the behavior of firms and the effects of their behavior upon markets. The material includes the theory of the firm and market structure, the models of industries and markets (monopoly, oligopoly, monopolistic competition, etc.), conduct and performance of firms, anti-competitive behavior, contractual relations, non-price-competition, and public policy issues.
Course Content
The course is an extension of 3110 201. Organization and development, concentration, entry barriers and other aspects of oligopolistic market structures will be discussed in the first part of the course. The second part will involve the theoretical and empirical dimensions of firm behavior. The specific topics will center on the pricing, investment and growth processes of modern oligopolistic firms.
Course Learning Outcomes
Program Outcomes Matrix
| Level of Contribution | |||||
| # | Program Outcomes | 0 | 1 | 2 | 3 |
| 1 | Use and develop skillfully economic concepts and theories, analyse economic behaviour and events by conceptualizing and evaluating via scientific methods (Has skills regarding theory and analysis) | ✔ | |||
| 2 | Evaluate how economic policies affect economic performance and how economic interest, relationship and interaction affect policy decisions (Knowledgeable about economic policies) | ✔ | |||
| 3 | Design and carry out studies regarding data collection, analysis and evaluation, that can be used in decision processes at every level (individual, firm, government, etc.)(Knowledgeable about quantitative and qualitative methods) | ✔ | |||
| 4 | Evaluate systematically and compare economic knowledge, phenomena and methodology; Develop critical, creative/innovative approaches to these (Critical, creative, innovative) | ✔ | |||
| 5 | Understand current economic phenomena and relevant political developments using information and data from various resources and provide multifaceted explanations (Concerned about current events) | ✔ | |||
| 6 | Follow developments in economic theory and methods; Be open to continuous learning (Open to continuous learning) | ✔ | |||
| 7 | Have skills to work independently and in a team (Individual and teamwork) | ✔ | |||
| 8 | Approach critically to economic and societal events and problems while being sensitive to social problems; Produce solutions to these problems by scientific approach; Share own thoughts (Sensitive to social problems) | ✔ | |||
| 9 | Communicate clearly, effectively and fluently (in English and Turkish) verbally and in writing, utilizing new technologies (Has effective communication skills) | ✔ | |||
0: No Contribution 1: Little Contribution 2: Partial Contribution 3: Full Contribution