Topics in Industrial Organization - JEB136

• Anglický název: Topics in Industrial Organization
• Zajišťuje: Institut ekonomických studií (23-IES)
• Fakulta: Fakulta sociálních věd
• Platnost: od 2021
• Semestr: zimní
• E-Kredity: 3
• Způsob provedení zkoušky: zimní s.:
• Rozsah, examinace: zimní s.:2/0, Zk [HT]
• Počet míst: 97 / neurčen (97)
• Minimální obsazenost: neomezen
• 4EU+: ne
• Virtuální mobilita / počet míst pro virtuální mobilitu: ne
• Stav předmětu: vyučován
• Jazyk výuky: angličtina
• Způsob výuky: prezenční
• Poznámka: předmět je možno zapsat mimo plán; povolen pro zápis po webu; při zápisu přednost, je-li ve stud. plánu
• Garant: PhDr. Jiří Schwarz, Ph.D.
• Vyučující: PhDr. Jiří Schwarz, Ph.D.
• Třída: Courses for incoming students
• Prerekvizity : {Skupina prerekvizit splnitelná buď JEB004 nebo JEM163}

Anotace

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This course provides perspectives of top executives of important Czech firms on industrial organization. Every lecture, given by a different top executive, focuses on one specific industry and its market structure, pricing, regulation, and factors influencing market equilibrium. The course covers major industries such as private equity, real estate, energy industries, banking, finance, telecommunications, IT, media, public relations, building industry, engineering, food industry, or health care.

Poslední úprava: Schwarz Jiří, PhDr., Ph.D. (23.09.2021)

Cíl předmětu

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The goal of this course is to have top executives of important Czech firms from various industries describe industry characteristics and market structure in which their firm operates. Lecturers will prepare their lectures in line with a given outline - it won’t be a "chat with a celebrity". It is expected that students already possess the needed theoretical background (JEB008 Mikroekonomie II, or JEB108 Microeconomics II). Lecturers will only deal with the specifics of "their" industries.

The course requirements are: passing midterm and final test, reading one assigned article each week related to the industry dealt with during the corresponding lecture and critically summarizing it in reader’s diary.

Poslední úprava: Schwarz Jiří, PhDr., Ph.D. (23.09.2021)

Deskriptory

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Lecture streaming

Those students who (solely due to reasons connected to covid) are unable to attend the lectures in person, are invited to join a MS Teams team via the link below. I will start a video stream there at the beginning of every lecture. Use your university account to log in (log with your student ID number as, for example, [e-mail] and use your CAS password). Note that when first joining the team, you have to be admitted in by me. So please join the team in advance and not during the lecture itself. Together with joining the team, send me ([e-mail]) an email explaining why you are not able to attend in person.

The MS Teams link: https://teams.microsoft.com/l/team/19%3adOQtel2h-AjITVTVho6-xF2qz7tLM6nmVrUR5NrBxPU1%40thread.tacv2/conversations?groupId=3dd4f403-d213-48ce-baa6-6a3a39d69cc1&tenantId=e09276da-f934-4086-bf08-8816a20414a2

 

Preliminary outline of a lecture:

1. Market structure of an industry

• Type of structure (monopoly (natural versus administrative), dominant firm, cooperative/non-cooperative oligopoly, monopolistic competition, perfect competition)
• Barriers to entry into the industry
• Market share and market power
• Demand structure of the industry
• Pricing

• Non-cooperative strategic decision making (predatory pricing, limit pricing, …)
• Cooperative strategic decision making (collusion)
• Price discrimination
• Price development and price forecast
• Market equilibrium

• Information and information asymmetry
• Supply chain
• Advertisement, marketing
• Patent policy, trade marks, specificities of goods
• Incentives for innovations, technological progress (R&D)
• Regulation

• National, EU and international regulation policy
• Antitrust legislation and its application in the industry
• Regulation of international trade (tariffs, subsidies, quotas, …)
• Questions and discussion
• The company within the industry

• Ownership and corporate governance
• Mergers & Acquisitions
• Cost curves, economies of scale
• Hierarchy of the company’s goals

 

Preliminary list of industries:

• Private equity
• Real estate
• Energy industry
• Banking and finance
• Payment services
• Medical devices
• Public relations
• Sharing economy
• Digital marketing
• Transportation

Poslední úprava: Schwarz Jiří, PhDr., Ph.D. (23.09.2021)

Literatura

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Readings:

Private equity: Cumming, Douglas and Uwe Walz. 2010. Private equity returns and disclosure around the world. Journal of International Business Studies 41(4): 727-754.

Insurance: Biener, C. and M. Eling. 2012. Organization and efficiency in the international insurance industry: A cross-frontier analysis. European Journal of Operational Research 221(2): 454-468.

Energy industry: Havranek, T., Z. Irsova, K. Janda, D. Zilberman. 2015. Selective reporting and the social cost of carbon. Energy Economics 51: 394-406.

Real estate: Crowe, C., G. Dell’Ariccia, D. Igan, P. Rabanal. 2013. How to deal with real estate booms: Lessons from country experiences. Journal of Financial Stability 9(3): 300-319.

Medical devices: Dana Goldman, Darius Lakdawalla, Chapter Thirteen - Intellectual Property, Information Technology, Biomedical Research, and Marketing of Patented Products, Editor(s): Mark V. Pauly, Thomas G. Mcguire, Pedro P. Barros, In Handbook of Health Economics, Elsevier, Volume 2, 2011, Pages 825-872

Telco: Briglauer, W., E. M. Camarda, and I. Vogelsang. 2019. Path dependencies versus efficiencies in regulation: Evidence from “old” and “new” broadband markets in the EU. Telecommunications Policy 43(8).

Payment services: Evans, David S. and Richard Schmalensee. 2007. The Industrial Organization of Markets with Two-Sided Platforms. Competition Policy International 3(1): 151-173.

Digital services: Bradley, Chris and Clayton O’Toole. 2016. An incumbent’s guide to digital disruption. McKinsey Quarterly, May 2016. https://www.mckinsey.com/business-functions/strategy-and-corporate-finance/our-insights/an-incumbents-guide-to-digital-disruption

Higher education: Tooley, James and Pauline Dixon. 2006. ‘De facto’ privatisation of education and the poor: implications of a study from sub‐Saharan Africa and India. Compare 36(4): 443-462.

Automotive: Fredriksson, Gustav, Alexander Roth, Simone Tagliapietra, and Reinhilde Veugelers. 2018. Is the European automotive industry ready for the global electric vehicle revolution? Bruegel Policy Contribution 2018/26. http://hdl.handle.net/10419/208034

Poslední úprava: Schwarz Jiří, PhDr., Ph.D. (12.10.2022)

Požadavky ke zkoušce

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Read one article each week & summarize critically in a reader's diary ... 20%
Midterm assignment ... 20%
Final assignment ... 20%
Activity during lectures ... 40%

Poslední úprava: Schwarz Jiří, PhDr., Ph.D. (12.10.2022)

Sylabus

Market structure of an industry

• Type of structure (monopoly (natural versus administrative), dominant firm, cooperative/non-cooperative oligopoly, monopolistic competition, perfect competition)
• Barriers to entry into the industry
• Market share and market power
• Demand structure of the industry

Pricing

• Non-cooperative strategic decision making (predatory pricing, limit pricing, …)
• Cooperative strategic decision making (collusion)
• Price discrimination
• Price development and price forecast

Market equilibrium

• Information and information asymmetry
• Supply chain
• Advertisement, marketing
• Patent policy, trade marks, specificities of goods
• Incentives for innovations, technological progress (R&D)

Regulation

• National, EU and international regulation policy
• Antitrust legislation and its application in the industry
• Regulation of international trade (tariffs, subsidies, quotas, …)

Questions and discussion

The company within the industry

• Ownership and corporate governance
• Mergers & Acquisitions
• Cost curves, economies of scale
• Hierarchy of the company’s goals

 

Poslední úprava: Bednařík Petr, PhDr., Ph.D. (15.02.2020)