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
3. Account for the implications of the institutional framework, regulations, and ownership control on performance, i.e., the governance of the firm
4. Account from a corporate governance perspective merger and acquisitions as a means for growth

5. Apply models for analyzing real world phenomena within firms, markets, and competition policy (especially regulations)
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
7. Demonstrate ideas and solve problems using graphical, tabular, algebraic, and advanced calculus-based techniques
8. Conduct theoretical and empirical analyses of real-world markets and competition policy (especially regulatory) phenomena
9. Apply OECD’s Competition Toolkit

10. Evaluate and methodologically reflect upon competition policy (especially regulation) from the perspectives of economic efficiency, behavioral economics, and sustainability

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 behavioral economics and sustainability

Connection to Research and Practice

The course is connected to the research front of Industrial Organisation, both theoretically and empirically. It also applies a wider theoretical frame (intradisciplinary and interdisciplinary) incorporating e.g., behavioral economics, sustainability, law, and entrepreneurship. Issues connected to competition and economic efficiency are fundamental to all research areas of JIBS.
There is a close connection to contemporary competition and regulatory evaluations performed by governmental institutions (e.g., Swedish governmental agencies and the EU) and international organisations (especially OECD). In particular, the students will work with the latest version of the competition toolbox of OECD in relation to analyse and reflect theoretically and empirically upon performed evaluations.

The course is delivered through lectures and exercise classes.

The teaching is conducted in English.

General entry requirements and 60 credits in Business Administration or Economics including Intermediate Microeconomics and Mathematical Economics (or equivalent).

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

Individual written exam (ILOs 1 – 4, 6 – 7) representing 4.5 credits.
Group assignment I (essay). (ILOs 3 – 10) representing 1.5 credits.
Group assignment II (ILOs 1 – 7), 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
Group assignment I1	1.5 credits	A/B/C/D/E/FX/F
Group assignment II1	1.5 credits	A/B/C/D/E/FX/F

¹ All parts of compulsory examination in the course must be passed with a passing grade (A-E) before a final grade can be set. The grade is set in accordance to JIBS grading policy.

It is the responsibility of the examiner to ensure that each course is evaluated. There must be course evaluators identified among the students. The evaluation is carried out continuously as well as at the end of the course, through a survey. After the course the course Examiner meets with student evaluators to discuss the survey results and possible improvements. A summary report is also created. The report is followed up by program directors and discussed with faculty and relevant others (e.g. Associate Dean of Education, Associate Dean of faculty, Director of PhD Candidates, Dean, or 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.

Academic integrity

[this text is compulsory and cannot be changed/removed]
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.

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

A list of additional articles will be supplied at the course introduction