Corso di studio in Direzione d'Impresa, Marketing e Strategia

The course aims to present and analyze the structure of firms and markets, with particular attention to imperfect market forms such as monopoly and oligopoly.

It will then propose the study of the acquisition of market power by a single firm and the strategic interaction between several firms, as well as public intervention to protect competition.

Finally, we will go beyond neoclassical models to understand the internal workings of the firm (the firm's relationship with managers, workers, lenders, the determination of firm boundaries).

At the end of the course, students will have to demonstrate:

• they are able to recognize firms' structure and the different type of markets;
• they have a thorough knowledge of possible public policy to support a competitive market.
• they understand the formal models describing the set of relationships and economic incentives within the firm

Lectures and (on-line) seminars.

A written exam for each module at the end of the course, according to the timetable set by the School.

The teaching will be delivered using the following tools:

• frontal lesson in the classroom, and in streaming via Webex (synchronous), with registration;

• online seminars and case studies via Webex (synchronous), with registration;

• exercises with solution (not for all the proposed exercises but for the more "representative" ones).

MODULE 1

PART I

Firms and Costs; Perfect competition; Monopoly; Oligopoly; Monopolistic competition;

 

PART II

Applied Economics, Intellectual Property Rights and Innovation; Institutional Efficiency, Firms Behavior and Market Dynamics;

 

MODULE 2

PART 1 - Antitrust:
- A historical perspective
- Market power and social welfare
- The relevant market and the determination of market power - Collusion
- Horizontal and vertical mergers
- Abusive practices

PART 2 - Beyond the neoclassical theory of the firm

- Principal-agent models
- Transaction costs
- Theory of property rights and boundaries of the firm

MODULE 1

Adopted text:

Organizzazione Industriale - 3/ed. Dennis W. Carlton e Jeffrey M. Perloff. Mcgraw-hill

 

Scientific articles proposed during the course.

 

MODULE 2

• Transparencies and lecture notes: ARE THE MAIN TOOL, TEXTS BELOW ARE FOR REFERENCE ONLY

• Reference texts:

- For the parts related to neoclassical theory and competition:

• A Microeconomics text (sections on the firm).
• Massimo Motta - Michele Polo: "Antitrust. Economia e politica della concorrenza", Il Mulino
• Luis Cabral, "Economia Industriale", Carocci

- For pricipal-agent models

• A. Mas-Colell - M.D. Whinston and J.R. Green: "Microeconomic Theory", Oxford University Press

- For contract theory and financial structure:

• Oliver Hart, "Firms Contracts and Financial Structure," Clarendon Press, Oxford.

- For labour market and macroeconomic issues:

• Keith Cuthbertson - M.P. Taylor, "Modelli macroeconomici", Il Mulino.
• David Romer, "Advanced Macroeconomics," McGraw- Hill.

 

The methods of carrying out the teaching activity may vary according to the limitations imposed by the current health crisis. In any case, the remote mode through distance learning is guaranteed for the entire academic year.