The objective of this course is to equip participants with the essential knowledge and skills to understand and apply the industrial economic principles and methods to real-world situations. By the end of the course, participants will be able to:

• Explain the basic assumptions and principles of industrial economics
• Apply the game theory approach to model strategic interactions between firms
• Analyze the determinants and implications of different market structures (e.g., perfect competition, monopoly, oligopoly, monopolistic competition)
• Evaluate the effects of various firm practices (e.g., pricing, product differentiation, entry deterrence, collusion, vertical integration) on market outcomes and social welfare
• Discuss the role and challenges of public policy (e.g., competition policy, regulation, industrial policy) in addressing market failures and enhancing efficiency

This course is designed for professionals who are interested in learning about industrial economics, its applications and implications. It is suitable for those who work in or interact with the business sector, such as managers, consultants, analysts, investors, or educators. It is also relevant for those who want to enhance their general knowledge and skills in economics and finance.

By taking this course, participants will benefit from:

• Gaining a comprehensive and up-to-date understanding of industrial economics
• Developing analytical and critical thinking skills to deal with business and market issues
• Enhancing their professional competence and confidence in the business sector
• Expanding their network and learning from peers and experts in the field

Day One:

Introduction to Industrial Economics

• What is industrial economics and why does it matter?
• What are the main goals and challenges of industrial economics?
• What are the key concepts and principles of industrial economics?
• What are the main sources of data and information on industrial economics?

Day Two:

Theory of the Firm

• What are the main theories of the firm (e.g., technological view, transaction cost view, agency view)?
• How do firms determine their size, scope, structure, and ownership?
• How do firms make optimal decisions under uncertainty and asymmetric information?
• How do firms deal with moral hazard and adverse selection problems?

Day Three:

Market Structure and Firm Conduct

• What are the main types of market structure (e.g., perfect competition, monopoly, oligopoly, monopolistic competition)?
• How do market structure affect firm conduct (e.g., pricing, output, quality, innovation)?
• How do firm conduct affect market performance (e.g., efficiency, welfare, profits)?
• How do market structure evolve over time (e.g., entry, exit, mergers)?

Day Four:

Strategic Interaction and Game Theory

• What is game theory and how does it model strategic interaction between firms?
• What are the main types of games (e.g., simultaneous vs. sequential, one-shot vs. repeated, complete vs. incomplete information)?
• How do firms choose their best strategies (e.g., dominant vs. Nash equilibrium)?
• How do firms cooperate or compete in different games (e.g., prisoner’s dilemma, coordination games)?

Day Five:

Public Policy and Industrial Economics

• What is public policy and how does it affect firm behavior and market outcomes?
• What are the main types of public policy (e.g., competition policy, regulation, industrial policy)?
• How do public policy address market failures (e.g., monopoly power, externalities, public goods)?
• What are the current issues and challenges in public policy (e.g., globalization, digitalization)?

To enhance learning and practical application of concepts, the training course will use a combination of interactive lectures, case studies, group discussions, practical exercises, and real-world examples. Participants will also get the chance to collaborate on group projects and create action plans adapted to the needs of their respective organizations.