On completion of the course the students will be able to:

1. Explain the characteristics of the firm as a transaction mode
2. Describe the objectives of the firm, to look at the legal form of the firm and its implications
3. Account for the implications of institutional framework, regulation and ownership control on performance (the governance of the firm)
4. Account for the investment and growth of the firm from a corporate governance perspective to look at merger and acquisitions as a means for growth

5. Apply models for analyzing real world phenomena within firms, markets and competition policy (especially regulation)
6. Apply economic concepts that have a broad use for decision making (e.g. opportunity costs, principal agent relationship, strategic behavior, transaction costs, vertical integration and bounded rationality/nudge)
7. Demonstrate ideas and solve problems using graphical, tabular, algebraic, and advanced calculus-based techniques
8. Apply OECD’s Competition Toolkit

9. Evaluate and reflect upon competition policy (especially regulation) from the perspectives of economic efficiency, behavioral economics and sustainability (green growth)
10. Conduct theoretical and empirical analyses of real-world markets and competition policy (especially regulatory) phenomena

Important elements of the course are:

• Firms, organisations, and contracts
• Corporate governance and firm objectives
• Theory of the firm and costs
• Market structures
• Game theoretic models (simultaneous and sequential)
• Vertical integration
• Business practices
• Strategic behavior
• Government policies, regulations and their effects
• Competition policy, also related to nudge and sustainability

The course is delivered through lectures and exercise classes.

The teaching is conducted in English.

60 credits in Business Administration or Economics includingIntermediate Microeconomic Theory (or the equivalent).

The course is graded A, B, C, D, E, FX or F.

Individual grades are provided based on: individual written exam, individual assignment and group assignment.


The ILOs listed above are assessed through the following types of examination:
Individual written exam (ILOs 1 – 4, 6 – 7) representing 4.5 credits.
Individual assignment. (ILOs 3 – 7, 9) representing 1.5 credits.
Group assignment (ILOs 1 – 5, 8 – 10), representing 1.5 credits
To pass the course, students must pass each element of examination.

Name of the Test	Value	Grading
Individual written exam1	4.5 credits	A/B/C/D/E/FX/F
Individual assignment1	1.5 credits	A/B/C/D/E/FX/F
Groups assignment1	1.5 credits	A/B/C/D/E/FX/F

¹ Grade is set in accordance to JIBS grading policy

It is the responsibility of the examiner to ensure that each course is evaluated. At the outset of the course, evaluators must be identified (elected) among the students. The course evaluation is carried out continuously as well as at the end of the course. On the completion of the course the course evaluators and course examiner discuss the course evaluation and possible improvements. A summary report is created and archived. The reports are followed up by program directors and discussed in program groups and with relevant others (depending on issue e.g. Associate Dean of Education, Associate Dean of faculty, Director of PhD Candidates, Dean and Director of Studies). The next time the course runs, students should be informed of any measures taken to improve the course based on the previous course evaluation.

JIBS students are expected to maintain a strong academic integrity. This implies to behave within the boundaries of academic rules and expectations relating to all types of teaching and examination.
Copying someone else’s work is a particularly serious offence and can lead to disciplinary action. When you copy someone else’s work, you are plagiarizing. You must not copy sections of work (such as paragraphs, diagrams, tables and words) from any other person, including another student or any other author. Cutting and pasting is a clear example of plagiarism. There is a workshop and online resources to assist you in not plagiarizing called the Interactive Anti-Plagiarism Guide.
Other forms of breaking academic integrity include (but are not limited to) adding your name to a project you did not work on (or allowing someone to add their name), cheating on an examination, helping other students to cheat and submitting other students work as your own, and using non-allowed electronic equipment during an examination. All of these make you liable to disciplinary action.

Book
Lipczynski, J., Wilson, J.O.S. and J.Goddard (2017) Industrial Organization: Competition, Strategy and Policy. 5th ed. Pearson.

Articles and Reports
Costa, E., King, K., Dutta, R. and F.Algate (2016) “Applying behavioural insights to regulated markets”, The Behavioural Insights Team for Citizens Advice.

Nordic Competition Authorities (2010) “Competition Policy and Green Growth: Interactions and challenges”, Report from the Nordic competition authorities No. 1/2010.

OECD, Competition Assessment Toolkit: Volume 3. Operational Manual, latest version.