Description: Lecture, three hours; discussion, one hour. Limited to Master of Quantitative Economics students. Introduction to empirical methods and applications in industrial organization (IO). Development of empirical toolkit to estimate industry models of demand and supply and apply it to analysis of emerging in issues in IO from regulator, consumer, and firm perspective. Underlying theme is that most real-world markets are neither perfectly competitive, nor strict monopolies, but rather involve strategic interactions among firms and consumers. To capture these interactions empirically, development of empirical models of consumer demand and firm competition, and use of these models to analyze interactions of firm strategies (including pricing, product quality choices, and advertising) and market structure across range of industries. Letter grading.

Units: 4.0