ECO 2900 and ECO 2901 analyze the reasons why imperfect competition exists and the appropriate role of public policy. The first half uses applied micro theory to examine the structure of industry under such topics as the theory of the firm, barriers to entry and strategic entry deterrence, the role of advertising, oligopolistic pricing, and the economics of regulation. The second half applies the theory of organizations and contracts to public policy issues such as the economics of competition policy, analysis of vertical restraints, merger policy and the economics of the patent system.
