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Global firms and markets - Structure
Global firms and markets - Structure

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GIORGIO BARBA NAVARETTI , responsible for the course

Degree in ECONOMICS AND POLITICAL SCIENCE (EPS) - Classi LM-56/LM-62 Enrolled from 2014/2015 academic year - Laurea Magistrale - 2016/2017

Compulsory course or activityyes
Year of course2s
Term or semester1st term
Scientific fields (settori scientifico-disciplinari)
  • SECS-P/08 - Economia e gestione delle imprese
ECTS credits (CFU) compulsory12
ECTS credits - facultative-

General information

Aims and objectives: The course aims at providing the students with a clear understanding of the following concepts:
- competitive issues at the firm level;
- key functioning of markets and competition;
- scope and effects of international trade; and
- determinants and effects of the international strategies of firms.

Language of instruction: English

Syllabus

Web:

http://ariel.unimi.it

Short course description english flag

The course covers several topics related to competition, globalization, and industry. The international context of competition is dealt with in modules 1 and 2. the industry and firm level analysis is dealt with in modules 3 and 4.

Syllabus UnitÓ didattica 1:

Syllabus
- Introduction
- The Gains from Trade
- The Ricardian Model
- The Heckscher-Ohlin Model
- Imperfect Competition
- Increasing Returns to Scale
- Trade in Intermediate Inputs and Wages
- Heterogeneous Firms and the International Markets
- Horizontal VS Vertical FDI

Readings UnitÓ didattica 1:

- Barba Navaretti G., and T. Venables, 2005, Multinational Firms in the World Economy, Princeton University Press (BNV);
- Feenstra R. C., 2004, Advanced International Trade. Theory and Evidence, Princeton University Press (F);
- Markusen J. R., J. R. Melvin, W. H. Kaempfer, and K. E. Maskus, 1995, International Trade. Theory and Evidence (the textbook is downloadable at http://spot.colorado.edu/~markusen/textbook.html) (MMKM);
- Helpman E., 2006, Trade, FDI and the Organization of the Firm, Journal of Economic Literature, vol. 44(3), pp. 589-630;
- Helpman E., M. J. Melitz, and S. R. Yeaple, 2004, Export versus FDI with heterogeneous firms, American Economic Review, vol. 94, pp. 300-316;
- Melitz M. J., 2003, The Impact of Trade on Intra-Industry Reallocations and Aggregate Industry Productivity, Econometrica, vol. 71(6), pp. 1695-1725;
- Melitz M., and G. Ottaviano, 2008, Market Size, Trade, and Productivity, Review of Economic Studies, vol.75, pp. 295-316.

Syllabus UnitÓ didattica 2:

Syllabus
- Introduction
- The Gains from Trade
- The Ricardian Model
- The Heckscher-Ohlin Model
- Imperfect Competition
- Increasing Returns to Scale
- Trade in Intermediate Inputs and Wages
- Heterogeneous Firms and the International Markets
- Horizontal VS Vertical FDI

Readings UnitÓ didattica 2:

- Barba Navaretti G., and T. Venables, 2005, Multinational Firms in the World Economy, Princeton University Press (BNV);
- Feenstra R. C., 2004, Advanced International Trade. Theory and Evidence, Princeton University Press (F);
- Markusen J. R., J. R. Melvin, W. H. Kaempfer, and K. E. Maskus, 1995, International Trade. Theory and Evidence (the textbook is downloadable at http://spot.colorado.edu/~markusen/textbook.html) (MMKM);
- Helpman E., 2006, Trade, FDI and the Organization of the Firm, Journal of Economic Literature, vol. 44(3), pp. 589-630;
- Helpman E., M. J. Melitz, and S. R. Yeaple, 2004, Export versus FDI with heterogeneous firms, American Economic Review, vol. 94, pp. 300-316;
- Melitz M. J., 2003, The Impact of Trade on Intra-Industry Reallocations and Aggregate Industry Productivity, Econometrica, vol. 71(6), pp. 1695-1725;
- Melitz M., and G. Ottaviano, 2008, Market Size, Trade, and Productivity, Review of Economic Studies, vol.75, pp. 295-316.

Syllabus UnitÓ didattica 3:

The following is a list of the topics for the third unit. Introduction to industry analysis in a partial equilibrium context; theoretical and empirical issues. Essential elements for a theory of the firm. Monopoly power and its consequences; monopoly pricing and price discrimination. Analysis of vertical relations, contracts, and the boundaries of the firm.

Syllabus UnitÓ didattica 3 non-attending students

The same as for attending students

Readings UnitÓ didattica 3:

1. Church J. and R. Ware: Industrial Organization: A Strategic Approach, available online at http://homepages.ucalgary.ca/~jrchurch/page4/page4.html
Chapters 1-6
2. Pepall L., Richards D. and G. Norman: Industrial Organization: Contemporary Theory and Practice. Blackwell Publishing, 2008 (4th edition). Chapters 1-5.

Also useful are:
Tirole, J.: The Theory of Industrial Organization, MIT Press, 1988, especially chapter 4.
Belleflamme P. and M.Peitz : Industrial Organization: Markets and Strategies, Cambridge University Press, 2010, chapter 6.

Readings UnitÓ didattica 3 non-attending students

The same as for attending students

Syllabus UnitÓ didattica 4:

The following is a list of topics for the fourth unit. Oligopoly structures: the Cournot quantity setting game. Analysis of price competition in oligopoly. Cartel formation and collusion in repeated games. Product differentiation models. Entry deterrence and entry accommodation. Oligopoly and international trade. Strategic trade policy.

Syllabus UnitÓ didattica 4 non-attending students

The same as for attending students

Readings UnitÓ didattica 4:

The final reading list shall be given during the course and posted on the course website at www.ariel.unimi.it.
The main texts are
1. Church J. and R. Ware: Industrial Organization: A Strategic Approach, available online at http://homepages.ucalgary.ca/~jrchurch/page4/page4.html, (Chapters 8-16 and 20)
2. Pepall L., Richards D. and G. Norman: Industrial Organization: Contemporary Theory and Practice. Blackwell Publishing, 2008 (4th edition). Chapters 1-5.

Also useful are:
Tirole, J.: The Theory of Industrial Organization, MIT Press, 1988; Chapters 5-8.
Martin, S. : Industrial Organization in Context, Oxford University Press, 2010 (especially chapter 16)
Belleflamme P. and M. Peitz, Industrial Organization; Markets and Strategies, Cambridge University Press, 2010 (cahpters 3 and 14)

Readings UnitÓ didattica 4 non-attending students

The same as for attending students

Prerequisites, exams and assessment

Examunico
Type of assessmentEsame
Assessmentvoto verbalizzato in trentesimi

Prerequisites, exams and assessment The following exams are a pre-requisite. Mathematics, Microeconomics, Maroeconomics, Game Theory. Exams are made of final written tests composed of exercises and multiple choice questions. it is possible that the sutdents be asked to write an essay in addition to the written test.

Propaedeutical courses Microeconomics, Game Theory, Mathematics.

Structure of the course

UnitÓ didattica 1

Scientific fields

  • SECS-P/08 - Economia e gestione delle imprese - Credits: 3
Activities

Lezioni: 20 hours

UnitÓ didattica 2

Scientific fields

  • SECS-P/08 - Economia e gestione delle imprese - Credits: 3
Activities

Lezioni: 20 hours

UnitÓ didattica 3

Scientific fields

  • SECS-P/08 - Economia e gestione delle imprese - Credits: 3
Activities

Lezioni: 20 hours

UnitÓ didattica 4

Scientific fields

  • SECS-P/08 - Economia e gestione delle imprese - Credits: 3
Activities

Lezioni: 20 hours

Teachers ' office hours

Teacher's office hours
TeacherOffice location
GIORGIO BARBA NAVARETTI , responsible for the courseProssimo ricevimento: mercoledý 29/3/2017 ore 16.30. Sito docente: http://www.dagliano.unimi.it/pages/giorgio-barba-navaretti/stanza 12
PAOLO GARELLARicevimento Luglio 2017: martedi 4 luglio ore 8-10 e martedi 11 luglio ore 9-11DEMM stanza 26
PAOLO GARELLARicevimento Luglio 2017: martedi 4 luglio ore 8-10 e martedi 11 luglio ore 9-11DEMM stanza 26

Further information

The program is dscribed in detail in the specific sections dedicated to the four modules below.