The course covers particular aspects of industrial organization, that is the stylized facts observed in the collective dynamics of a large number of firms, both from an empricial and a modeling perspective: (I) data analysis and empirics, (II) stochastic growth models, (III) competition and cooperation.
Lernziel
A successful participant of this course is able to * analyze empirical data about firms with R to obtain statistical regularities * explain these regularities using different stochastic models * understand models for the interaction patterns of firms (competition and cooperation, adoption of common behavior, response to innovations) * relate these findings to economic theory * understand the role of minimalistic models in capturing real economic dynamics
Inhalt
In this course, we study the collective dynamics observed in a large number of firms, rather than the dynamics of individual firms. The latter is hard to predict and depends on many firm specific factors, ranging from location and taxes to managerial talent. The collective dynamics observed on the aggregate level of a system of firms, however, show some remarkable regularities, many of which can be covered by rather simple models. Examples are the distributions of firm sizes and growth rates, but also specific patterns resulting from profit maximizing behavior.
While the theoretical foundations of firm dynamics are given in the lecture, they are illustrated on a more practical side in weekly exercise classes. Using the statistics software R, the participants analyze real data and build models in self study projects, which they present and jointly discuss.
Skript
The lecture slides will be available on the Moodle platform for registered students, only.
Literatur
See handouts. Specific literature is provided for download - for registered students, only.
Voraussetzungen / Besonderes
Participants of the course should have some background in mathematics and statistics and a dedicated interest in formal modeling and computer simulations, and should be motivated to learn about industrial organization from a quantitative perspective.
Self-study tasks are provided as home work for small teams (3-5 members). Weekly exercises (45 min) are used to discuss the solutions. Active participation in solving the self-study tasks is compulsory for participating in the final exam.
Leistungskontrolle
Information zur Leistungskontrolle (gültig bis die Lerneinheit neu gelesen wird)